It sounds completely preposterous. In fact, it almost sounds idiotic. How could it possibly be that gold is in a bull market and stocks are in a bear market right now? After all, gold has been beaten badly over the last few years, while U.S. stocks have been on a tear since the end of last decade. Yes, stocks are in a bull market and gold is in a bear market from a cyclical perspective. But when one stands back from the trees and looks at the longer-term forest, a very different picture presents itself.
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