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Mike Bird, reporter at The Wall Street Journal, reflects on investor sentiment during a bull market, cautioning that rising markets may lead individuals to overestimate their investing abilities.
He adds that only by leveraging up aggressively can one truly reveal their investment skill in a bullish environment.
Bird previously noted that earnings expectations for U.S. stocks have been rising at a pace seen in recovery periods. He has also discussed Tesla's unique volatility and the concentration of gains during rallies in 2013 and 2020–21. The observations come alongside renewed debate on what drives performance in strong markets.