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What happened last week, and what it may mean for the market in 2020.
The Narrative
The narrative has flipped from 'this is really bad' to 'let's reopen the economy.' We've moved from pessimism to optimism. And based on the stock market, investors appear to be buying into the optimistic narrative.
Cullen Roche, from Pragmatic Capitalism, made a good case for optimism in an opinion piece on Marketwatch. He argues that the stock market is forward-looking, and I agree with him. But he takes things a little too far when he argues that the