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Alan Greenspan

Want to make money in the stock market? Pay no attention to the Fed chair

Want to make money in the stock market? Pay no attention to the Fed chair

Anyone playing the stock market gets inundated with investment advice of all sorts--their broker, their bankers, their astrologers, the crackpot on the corner. But who gives some of the worst advice? According to veteran investment analyst Burton Malkiel, that would be the head of the Federal Reserve. In a Wall Street Journal op-ed Tuesday, Malkiel took aim at recent pronouncements by Fed Chair Janet Yellen about the "potential dangers" of "quite high" stock market valuations, as well as her earlier warning about biotech and social-media stocks with "substantially stretched" valuations. "Such comments, he wrote, "are...

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