Is this a New Bull Market?

As investors have seen the market rally over the last few weeks, one has to ask the question:

Is this a rally in a bear market, or the start of a new bull market?

The South African and US equity markets are pretty much back to where they started this year, so if you look purely from a stock market perspective, the crisis is over, the economic damage looks limited, and we can look forward to an exciting period of growth.

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