>Things already turned south (in March) and are on the rebound now.
The stock market is not the economy.
What has changed since March, except a whole lot of small-business bankruptcies and closures, cities burning in mass protest, and an even-closer, tightly contested election with massive political consequences?
There’s plenty to be worried about in the real world, but what’s changed is in March the market was down 30%, and now it’s back at all time highs. The Fed is the most important factor in the market these days, not the economy, and since we’re talking about ipos the market is what matters.
