A new bull market can’t start until investors give up

Calling a market bottom obviously is more art than science. An NYSE sign is seen on the floor at the New York Stock Exchange in New York (AP) — Calling a market bottom obviously is more art than science. An NYSE sign is seen on the floor at the New York Stock Exchange in New York (AP)

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5 min read . Updated: 23 Jul 2022, 12:53 PM IST Spencer Jakab, The Wall Street Journal

For a new cycle to begin, people who bet on the market need to capitulate. Problem is, they’ve forgotten what that feels like.

“In order for the stock market to live, Cathie Wood has to die."

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