Bull markets die on euphoria, no one looks euphoric for this market
Bull Markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.
– John Templeton
John Templeton was likely the first, and unsurprisingly one of the best, at summarizing what really drives market cycles. It is likely that Templeton would look at today’s market and not yet see the euphoria he referenced in the above quote....
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