C. J. Lawrence Trades Its Bear For A Bull
Economist Edward Yardeni, the economy's superbull, is leaving Prudential Securities to become chief economist at C. J. Lawrence. Yardeni is replacing the far less upbeat Edward Hyman, who will head his own consulting and money-management firm.
What a switch. Yardeni's weekly economic reports are full of vigorous attacks on the disciples of Nostradamus (bearish economists), odes to Couch Potatoes (the fortysomething generation), and optimistic forecasts about the recession's end. By contrast, Hyman's weekly reports consist of page after page of charts punctuated with pithy comments like "Crunch!" and "Pressure!" Hyman has long run with the bears, recently suggesting that the economy might just inch along until sometime in 1992.