“Buy the dip” has been a headline-making phrase lately. Whether from professional strategists, or in the form of a meme on Twitter, the mantra has inspired an entire generation of investors to go bargain hunting for stocks in the face of a market pullback.
Moreover, price action since the onset of the pandemic has generally favored that strategy: every drawdown since the beginning of 2020 has been followed by a comeback to a new high.
But after a dismal start to the year for equities, and…
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