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Rally Has Big Skeptics Grousing but Data Backs the Bulls

In the past week alone three big market “skeptics” tried to take center stage and herald their bearish forecasts. We’ll take a look at their arguments below. I’ve been on the record for months now that based on our analysis, equity markets should be higher in the future.

Skeptic #1: A high-profile hedge fund manager with an impressive long-term track record suggested that equity investors are likely headed toward a “lost decade” after suggesting “cash is trash” just five short months ago, weeks before the February 2020 high in the S&P. This conclusion is apparently based on a forecast that U.S. corporate profit margins are about to experience a sharp and sustained decline.

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