Should the initial signs of improvement we’re seeing here and in China prove out, and with the Fed remaining on the sidelines, 2019 could be very rewarding for investors.
What a difference a quarter makes. In the fourth quarter of last year, the S&P 500 suffered a bear market, falling 19.7% peak to trough—close enough for our purposes to the unofficial bear market threshold of 20%. The market made its low on Christmas Eve, promptly turned on a dime, and rocketed up 23% since then. What gives?
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