Optimism’s Re-Emergence Could Shake Up 2013’s Performance
On Friday, March 9, we will “celebrate” the 4-year anniversary of the Great Recession’s 2009 stock market bottom. Back then, the Dow Jones Industrial Average (DJIA) was below 7,000, a level first reached in 1997. Now its back to its all-time high of about 14,000, up 100% (and that excludes dividends).
What makes optimism so important this year is that it’s been missing from the stock market for about six years – two down and, remarkably, four up. In fact, it’s been MIA for so long that the media and pundits are having trouble interpreting optimism’s reappearance. The view by many is that optimism = bubble-top = risk.
That view is wrong, and here’s why…
Article published on Seeking Alpha
