Mark Hulbert: Why it’ll take more than easy money from the Fed to spark this bull market

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Everyone knows that the U.S. governments massive stimulus is the reason the U.S. stock market took off from its March 2020 lows. But, as Humphrey Neill, the father of contrarian analysis, constantly reminded his clients: When everyone thinks alike, everyone is likely to be wrong.Conventional wisdom certainly appears to be based on the evidence. M2 money supply (consisting of cash, checking deposits, and so-called near money that can be converted into cash with little difficulty) has grown at a faster…

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