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Message:: [QUOTE="Juan Blanco, post: 1662668, member: 41665"]yakpoo-1) The US Stock Market turned on ~6 March 2009. This is not a debatable point, it's a fact. 2) FSP FAS 157-4 (as issued) was on 9 April 2009, a full month after the monster rally started. Staff position on FASB - 157b was propoosed December 2007. "This FSP shall be effective upon the initial adoption of Statement 157." Amendments were published in February 2008: "This FSP defers the effective date of Statement 157 to fiscal years beginning after November 15, 2008" ; no amendments in March 2009. As published 9 April 2009: "This FSP shall be effective for interim and annual reporting periods ending after June 15, 2009, and shall be applied prospectively. Early adoption is permitted for periods ending after March 15, 2009. Earlier adoption for periods ending before March 15, 2009, is not permitted." By the timing of adoption (mid June 2009) the market rally was well under way and certainly NOT "caused by" this minor change. You're misinformed otherwise. Your contribution to the RFC was less germane to the rally than Faber's call on CNBC, I think. [video=youtube;1BgnSPnO-I8]http://www.youtube.com/watch?v=1BgnSPnO-I8[/video][/QUOTE]