The investment markets have whimpered into August after a huge record-breaking stock market rally in July, encouraged by declining long-term interest rates. Why? What’s next? We’ve heard many explanations, including “digesting the gains” to a “period of consolidation” to “that must have been a bear market rally. Friends of ours frequently comment that they like the tone and tenor of these Market Outlooks, especially since last fall when we began consistently warning our readers to
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