From an article that quotes billionaire Larry Robbins:
"Finally, let's revisit this analysis from billionaire Larry Robbins on the influence of low interest rates, Fed policy and oil on markets. He says every time ONE of these (following) conditions has existed, the market has produced positive returns. ? Here they are: When the 30 year bond yield begins the year below 4%, stocks go up 22.1%. When investment grade bonds yield below 4%, stocks go up 16%. When high yield bonds yield below 8%, stocks go up 11.6%. When cash as a % of asset for non-financials is above 10%, stocks go up 17.6%. When the Fed tightens 0-75 basis points in the year, stocks go up 22%. When oil falls more than 20%, stocks go up 27.5%. Again, his study showed that there has NEVER been a down year stocks, when any ONE of the above conditions is met.
It worked in 2015. It worked in 2016. And now, not only does ONE of these conditions exist, but ALL of these conditions are (or have been) met for 2017. "
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