Stock Bull Pain Threshold Swells to Pandemic Size in New Market Run-Up
- People are just piling in going, ‘Crap, I missed it’: Forrest
- Meanwhile, economic growth is slowing, earnings estimates cut
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Anyone who lived through the 2020 bull market knows: investors, especially of the retail ilk, can stomach a lot of pain. However dark is the here and now, light beckons at the end of the tunnel.
It worked in the pandemic, when equities spiked in the middle of a brutal recession and stay-at-home speculators looked like geniuses when the economy bounced back. Now, with Jerome Powell’s Federal Reserve giving hints of confidence the inflation war is winnable, the same spirit seems to be informing a rally that has pushed up the S&P 500 almost 17% in four months.