The Bull Is Back
The bull is back. Just weeks ago, when despair was great and fear reigned supreme, the beaten-up stock market took off like a rocket, confounding the pundits--who are still scratching their heads. The Dow Jones industrial average has advanced more than 1,000 points in a month, and the awesome gains in small-cap and mid-cap stocks have left many investors breathless. "Is this market for real?" asked Anthony Pearce-Batten, the moderator who kicked off the Legg Mason Value conference for institutional investors on Nov. 10. "Or is this one of the biggest sucker rallies of all time?"
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