Keep some powder dry': A Wall Street chief strategist explains why stocks could repeat an ugly crash that's only occurred once since World War II
Huge milestones like these can lead one to believe that the worst of the coronavirus-fueled crash in stocks is over. But not so fast, says Jim Paulsen, the chief investment strategist of The Leuthold Group.
He observed that only one post-WWII bear market, in 2001, featured a 20%-plus rally that did not effectively end the slump. At that time, stocks staged a 29% rally before cratering beneath their previous low after the September 11th attacks.There remains considerable uncertainty about how quickly the economy will return to full strength after its forced shutdown. The timing of a vaccine that averts a second wave of new infections is also unknown.
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