Ninth Inning Comeback

Does the S&P 500's positive start to 2007 point to further equity price appreciation?

Investors are a lot like dieters: they look to January as a fresh start. Profit taking last year left many flush with cash, and this, combined with the desire to take advantage of the more favorable tax treatment offered by long-term capital gains, suggests to us that investors are likely to plow this money back into the market.

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