Why Pessimists Missed the Bull Market

Economists' forecasts in recent years have got some things right, but missed the boom in US corporate earnings

John Rekenthaler 11 October, 2018 | 8:05AM

Wall Street - US Investing

Since the financial crisis, share ownership has gradually declined. Retail investors have been unconvinced by the bull market of the last 10 years. Professional managers haven't exactly pounded the table with enthusiasm, either.

As is customary, stocks climbed the wall of worry. As is also customary, most of the public discussion was nonsense-, including unnecessary worries about political issues. Investment experts will talk at length about such subjects as election results, tax proposals, and budget negotiations.

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About Author

John Rekenthaler

John Rekenthaler  is vice president of research for Morningstar.

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