The Most Hated Rally in History Just Won't Stop
This 10-week-old upswing may have already taken the mantle from the post-2009 bull market.
Broken glass doesn't put anyone in a bullish frame of mind.
Photographer: JOHANNES EISELE/AFP/Getty Images
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The bull market in stocks that galloped on for a decade after 2009 was widely described as the most hated rally in history. It took many by surprise (myself included), and came even as money flowed into bonds. Stock markets outside the U.S. behaved roughly as they were supposed to do after a big crash, and traded sideways in a wide range for years. In the U.S., they just went upward. In hindsight, many of us badly underestimated the power and determination of the Federal Reserve.