Bull or bear? In 2020, we witnessed the end of the longest bull rally in US history, the shortest bear market on record and a remarkable rally that propelled stock indices to fresh alltime record-high levels — all in the space of a year. Every investor, analyst, fund manager and financial media is now preoccupied with one fundamental question: How much longer can this new bull market continue? Unsurprisingly, there are passionate arguments from both sides of the divide.

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