The latest market run-up has inevitably invited comparisons with the run-up six years ago that preceded the October 1987 crash.

The bottom line: investors who profited from the market run-up since the 1987 crash probably have to adjust their expectations for the next several years.

This caution means that the market run-up of the last few years has translated into higher spending only very slowly, and in many places that spending is just becoming visible.

But why, given 1995's market run-up, have splits been infrequent?

Treasury prices fell yesterday, as investors chose to take profits on this week's market run-up.

Because of the market run-up last year, Mr. Jensen said he was not finding many good investment opportunities these days.

And it is those big stocks that have been the most successful in the recent market run-up.

With Labor Day approaching, few saw any reason for the market run-up to end anytime soon.

The recent market run-up is "dangerous" and "scary," he said, reminiscent of the narrow market dominated by the Nifty 50 in the days before the 1973-74 selloff.

In this way, investors can lower their 1994 tax bills while leaving themselves poised to catch any market run-up in January.