WALL STREET: The Lion Tamers on '75

What will happen to stock prices in 1975? Many Wall Street analysts are predicting an upswing on the grounds that nervous investors will eventually decide that the worst is over for the economy and begin buying shares again. At its close at 616 on the old year's final trading day last week, the battered Dow Jones industrial average was up 38 points from its 1974 low (578 in early December), and some forecasters were suggesting that the average could grope its way upward another 200 points or so over the next twelve months.

As it happens, the mildly optimistic conventional forecast...

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