Resource Currencies Are the Latest Market Myth

"You can observe a lot just by watching."
-- Yogi Berra

Too much of what passes for wisdom in financial markets is best classified as urban legend. That's a shame because the wealth of data available for true analysis should make guessing unnecessary.

But market analysis is at least as much of an art as it is a science, which is why those content to draw simplistic conclusions are doomed to fail. As an example, look no further than the truth that so many held to be self-evident only a year ago: The Fed could make stocks rise by making short-term interest rates fall. ...