[kenavi]

I love James Grant. He calls market turns early but is usually correct.

In 1982 with my diploma in hand, I heard Grant face off at NYU with an optimistic speaker from Lord, Abbot.

The Lord Abbott guy, an old fox, told the recent graduates: "The President (Reagan) is unleashing the economic engine; the market will rise to record heights. There is a new Premier in the Soviet Union (Gorbachev); expect a deal. The economic prosperity will carry you to the next century; enjoy the ride."

I'm still waiting for James Grant's predictions that day to come true.

[bpjam]

I personally believe that the DOW breaking 10,000 again and now hitting 11,000 is the most underreported story in the past year. Hello, 10,000 was such a big deal the first time that we practically threw away MBA programs in favor of Jolt cola IV's and anybody under 25 with carpal tunnel syndrome.

We have a kick @ss economy and a booming market in addition to the largest increase in home equity in history and some people can't even find it within themselves to look for a positive story to report. Its not sad that they are wrong, just that they are so bitter about it.