It seems almost quaint to think about the reasons stock used to go up years ago, such as:
- Consistently strong and growing earnings;
- A superb management team;
- Healthy dividends well in excess of bond yields;
- An exciting new product line
What is it this morning powering stocks to lifetime highs? Oh, that would be:
- The President sounded Presidential
Sort of like “the grass looked green” or “the sky looked blue”. We’re really reaching here, folks.
