As I often note, making Plans B and C is free.
The stock market is always looking past “bad news” to front-run “good news.” Once it became clear that the Titanic was indeed going to sink, the stock market would rally on the prospect of sharp growth in lifeboat shares. In other words, never mind the bad news, let’s look beyond that and find some reason to rally.
This is a pattern that’s easily visible in the past two decades. When it became clear that Covid was becoming a global pandemic, the US stock market rallied for weeks, something that struck sober analysts as completely disconnected from reality. Eventually reality intruded and the…
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