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| By Ken Fisher, Forbes, 07/18/2011 |
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As bull markets pick up steam many investors fall prey to what I call the "morphing fear phenomenon." It's a subset of the legendary "wall of worry" that bull markets love to climb. In any bear market something frightens us-- whether justified or not--and recessions always do. Early in the subsequent bull market and expansion we keep expecting these worries to appear. If they don't, we morph fresh scary fantasies that seem like new problems but are simply manifestations of old fears.
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