Enter Santa Man

An unforgiving autumn. U.S. stock investors have been stirred once again in recent weeks from their prolonged monetary stimulus-induced coma. Since its final peak in early October, the S&P 500 Index has fallen by more than -9% to date through Wednesday’s close and by more than -11% along the way on a peak-to-trough basis. Is the decade-long stock bull market finally over? Is now the time for investors to raise cash and head to the exits?

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