The US market is a lot cheaper than it was but it has not fallen far enough to convince all investor...
The US market is a lot cheaper than it was but it has not fallen far enough to convince all investors that the bear market is over. Andrew Smithers, analyst at Smithers & Co, says past bear markets have invariably taken the stock market down to a level at which investors can then receive markedly above-average returns. However, he argues it is unlikely this has yet occurred because long-term returns are still well above average from most starting points, implying significantly below-average returns in the future. Smithers believes this latest rally resembles the temporary upswings seen...
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