S&P 500: Charting the return

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The S&P 500 has climbed from the abyss of 2009, when it had lost more than half its value, to within 5 per cent of its all-time high. This comes as no surprise to David Ranson, president of Wainwright Economics, who maintains such recoveries follow a empirically predictable trajectory. He explains his theory and where it shows buying opportunities to Long View columnist John Authers.

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