On average, it has taken 512 trading days for stocks to reach a new all-time high following a 20% drawdown (measured from close to low including today's datapoint).
Despite extreme macroeconomic and political uncertainty, stocks have formed the quickest V-shaped bottom since 1950 with the new all time high close today.
As a result, alternative/tactical strategies may once again face criticism from buy-and-hold investors who have watched their portfolios rebound in record time.
