While he was off on his 1978 tour, Americans were becoming disgusted with their lot as all "emerging second-class nation", Wilson says. They began to see that incentives had to be restored to the economy. For instance, the capital gains tax was cut, an extraordinary turn-about. If it had been predicted before he went away in May, he would have said it was simply as inconceivable as the prospect of Resorts going up 1 percent.
This momentous transformation in the U.S. should soon bring about a huge bull market.
In the 1940s and 1950s, the last time price earning multiples were at these low levels, the investing public expected that there would be another great postwar depression. Instead, after the beginning of 1953 it became apparent that there would not be one, and price-earnings multiples got so low this time that investors felt that the country was drifting into socialism. That drift, however, may be reversing direction.
Wilson believes that the bankruptcy of New York City means the discrediting of big government, that as a result there will be less government, and that things in general will go much better. From 1980s depressed levels the market could rise to twenty times doubled earnings or almost fivefold in five to seven years. Wilson believes that he"ll be worth hundreds of millions of dollars before it"s over.
单选题
From paragraph 1, we can infer that Resorts is ______.