Bull Market Rhymes
The Memo by Howard Marks
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The 20 20 to 21 Bull Market
In many bull markets, one or more groups are anointed as what i call super stocks. The dramatic performance of the fams in 20 20 attracted the attention of investors and supported a widespread swing toward bullishness. By september 20, twentyeth that is, within six months, these stocks had nearly doubled from their march loas to be up 61%. In the 20 20 to 21 bull market, ip os from unprofitable companies experienced big resurgents.
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