In 1984 and 1985, retirement of corporate stock was running far in excess of new issues, but we doubt if this is true in 1986. Equity offerings are now in excess of the former peak levels in mid-1983. All in all, the “big shrink” is no longer a valid part of the stock market bull’s case.
Jun
02
1986
Is the “Big Shrink” Yesterday’s News?
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