Life In Purgatory: Not As Bad As You’d Think?
Certainly not the most comforting analogy, but apt, nonetheless, as we sit here, essentially trapped between two realms. On the one hand, stocks have been on a tear for nearly two years; now, seemingly-lofty valuations and historic highs in market concentration are causing some investors to anticipate a reversal of fortunes. With strong corporate earnings and no sign of an impending recession, however, the path of least resistance from here remains higher, nonetheless.
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