- "Bear markets end with recessions, they don't begin with them," says Morgan Stanley strategist Mike Wilson.
- Wilson's take is that the bear market didn't begin two months ago, but instead two years ago. The pandemic plunge is thus the loud end to that move.
- What we have now is "unprecedented and unbridled monetary and fiscal intervention" combined with the cheapest valuations in nearly a decade. "The risk/reward [is] more attractive today than it’s been in years."
- Related ETFs: USA, CRF, SCHX, ZF, VV, FEX, JKD, SFY, EEH, EQL, IWL, GSEW