Every 3% or 5% single-day pop in technology stocks and high-beta market darlings is being hailed by retail momentum chasers as the definitive return of the bull market. I’m a natural skeptic, hardened by decades of seeing markets cycle up and down. And I just don’t see the bull market returning in force for a while… and maybe a long, long while.
To be clear, it doesn’t prompt me to “exit the market,” no more than it would prompt me to “pile into stocks” when the coast looks clearer. To me, investing in the stock market is never about “do I” or “don’t I.” It is always about “how much do I allocate?”
