The Triumph Of The New Economy

A powerful payoff from globalization and the Info Revolution

It was a good year to be an optimist. In 1996, defying the warnings from skeptics, investors big and small shoveled money into the U.S. stock market, which hit record after record. Over the past year, despite the recent correction, the Standard & Poor's 500-stock index has returned 20%, plumping up many a brokerage account and retirement portfolio. Since the beginning of 1995, the market has gained an astounding 65%.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.