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Abstract
Investors certainly remember 2018’s miserable stock market performance: The major stock indices dropped nearly 15% in the fourth quarter, bottoming out on Christmas Eve day. That’s the bad news, however. The good news is that the bar was set low for 2019 to outperform 2018’s performance. Had stocks done nothing more than just recover from those losses, 2019 would have been a good year for investors. As we all know, and to the surprise of many, many investors who were prepared for a 2019 recession, stock markets shot up.
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