Contrarian Investors Spot New Decade-Long Bull Markets While Others Chase Recent Tech Gains
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New secular bull markets in value stocks, commodities, energy, and materials have outperformed since March 2020 but are hidden in plain sight as investors remain focused on tech.
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These new bull markets could run 10+ years like the 2009-2021 bull market as long-term trends.
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Retail investors tend to chase recent performance and have recency bias rather than spotting these longer secular trends.
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Being contrarian can work but must be timed right - around 20% of time at key inflection points.
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Interest rates and commodity prices serve as key indicators for when broader markets may turn, like in 2007-2008.