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By early 2000, 70-80% of stocks were in bear markets, and the indices continued to move higher. I have a word for that. Denial.

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New Short Thoughts article - The AI Cloud Oligopoly, Stages of Grief & a Flashing Bear Indicator Denial is most easily found in market breadth indicators. I follow one in particular that seems to give a strong signal every few decades. https://t.co/B0YQlk21zX

michaeljburry ↗
Library as of 2026-10-19