Don't get caught in the market's 'fear bubble,' long-time bull Jim Paulsen warns (via TradingNation)
correctly predicted the stock market would sharply rebound"I think the odds favor all of the policy stimulus we've introduced: fiscal stimulus, policy stimulus, monetary growth, lower yields," he added. "It's been about six to nine months lag time, and I think it's going to start to improve economic reports.""If you pierce a fear bubble, do you have a big rally? And, I kind of think that's one of the contributing factors to the upside," said Paulsen.
Yet, he acknowledges the market is in a late-stage economic growth cycle. However, he isn't going into recession countdown mode like many of his Wall Street peers. "We've grown slowly close to the 2% stall speed we used to worry about the entire recovery. We're at full employment with 4% unemployment," Paulsen said. "We're in the longest recovery ever now in U.S. history. So there are certainly characteristics of being near the end. But character wise, I just don't see the overextended nature mainly because we've been so conservative.
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