The U.S. stock market outlook is increasingly bleak. It’s not necessarily bleak for the next few months or over the next year for that matter. In fact, I continue to believe the U.S. stock market remains the best place in the world to concentrate equity exposures with a broad asset allocation framework for now. But the longest bull market in history by some measures will eventually meet its maker. And what lies after may prove most unpleasant for the zillions of investors that have piled into passive index products over the last several years. Are you ready?
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