Another Rapid Rundown

The rally on Wall Street continues. The Dow and S&P keep hitting fresh, all-time highs. It’s happening in an environment of crisis and extremes. This year has witnessed growing fears of an economic slowdown, inflation, high interest rates, expanding wars overseas, natural disasters and an exceptionally divisive and unpredictable Presidential election campaign. So of course, over the first three quarters, it turns out the S&P 500 had its best performance this century. It’s defied logic and seasonality with a green August, September and so far, October. It’s been a remarkable year for investors. There’s also this: There’s nothing like price to change sentiment...