Hamilton alumnus Andy Burns '78 was interviewed for a Wall Street Journal column (4/26/04), MARKET MOVERS: "Dueling Forces Jostle Stocks."
The article describes how "Two of the most powerful forces in the stock market -- earnings and interest rates -- are fighting each other, one pushing stocks up and the other pushing them down. Which force prevails will determine whether the bull market continues, or is replaced by another bear market."
Burns, president of money-management firm Strategic Investment Advisors, in Utica, is quoted in the article as saying: "Stocks historically pretty much never do well while interest rates are rising. I think this year will be kind of a consolidation year, as we leave the zone of unbelievably low interest rates and get back to the zone of higher rates -- but not higher to the point of bringing the world to a screeching halt."