We investors are nightwalkers in a dream world, where success is not predicting what economies will do next, but what the markets will dream they will do. So in trying to predict where markets will be by the end of 1998, a realistic starting-point would be to say: we don't know. But, at least, we can outline the critical variables that will make you richer or poorer over the next year or two.
July 01, 1997