... werebuoyantthatyear.Then,asnow, tech stocks wereall the rageand trad-ing volume was high,atleast bythe standardsof the day. Brokersatother firms,all ofwhomworked on acommissionbasis, were makingmoney ... a 1% “trail” fee each year. The ad urges the magazine’s investment-professional readers to “Find out moreabout the annuity that keeps paying and paying and paying ” A great deal, no doubt, for ... ignore market strategists who use financial andeconomic data to forecast market direction. If we have learned any-thing over the past 70 years from the likes of Cowles, Fama, Graham,and Harvey,...