Source: Tulsa World, Okla.mini storageOct. 20--Living through what some financial analysts call the "long, hard slog" of the past 13 years, it's easy to get nostalgic about the roaring bull markets of the 1980s-'90s era.Legendary market strategist Stan Salvigsen, who worked for Merrill Lynch and later co-founded Comstock Partners, called that earlier period the "Banzai Pipeline" after the Hawaiian mecca for surfers.The Banzai Pipeline produced towering, powerful waves that, while dangerous, were coveted as the ultimate ride.In the same way, the financial conditions driving the bull markets of several decades ago gave investors a rewarding, if at times nail-biting, experience.In contrast, waves in more recent rebounds haven't often produced more than a gentle lapping against the shore. But that could change in the next 12 to 24 months, analyst William Greiner says.Greiner, who works for Leawood, Kan.-based Mariner Wealth Advisors and is a frequent television commentator, has studied Salvigsen's theories. Greiner outlined the Banzai Pipeline scenario in Tulsa last week during a private talk to clients of Adams Hall at Southern Hills Country Club."Have we already returned to the Pipeline?" he asked, noting the market's strong performance so far this year. "At this time, we don't know."Huge waves of profit tend to form after stretches of turmoil, Greiner said, when investorself storage are able to breathe a sigh of relief.As examples of this, he pointed to the 1940s when it became clear the Allied powers would win World War II and the 1980s when Federal Reserve Chairman Paul Volker focused on controlling runaway inflation. Each time, the good news was followed by an extended bullish period.The analyst noted that the markets did not need all problems to be solved to take off -- only to know that the worst was over for a while and that workable plans were in place."It is our anticipation that, again, the world's investors won't need to see an actual end to our debt and economic imbalance problems," Greiner said. "We only need to see a solution to these problems -- a solution I believe is in the making in Europe and the United States."Despite the stock market's performance this year -- a gain of about 17 percent -- a lot of money remains on the sidelines, Greiner said in an interview.But now may be the time to get a big chunk of those funds invested in equities. Because when a monster wave gets rolling, it's less thrilling to jump on it as it approaches the shore."The upcoming bull market rally may provide the same excitement for investors as the Banzai Pipeline has for surfers," Greiner said.Copyright: ___ (c)2013 Tulsa World (Tulsa, Okla.) Visit Tulsa World (Tulsa, Okla.) at .tulsaworld.com Distributed by MCT Information Servicesmini storage
- Oct 21 Mon 2013 11:48
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Tulsa World, Okla., John Stavancage column
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