A standard recession doesn’t just upend the economy. It cleans out the excesses in markets, turning winners into losers and, sometimes, losers into winners.
This time is different so far. Rather than breaking the habits investors fell into during the bull market, the coronavirus crisis and economic shutdown have reinforced two of the biggest trends in stocks: U.S. technology and “quality” stocks, those with a steady earnings record, continue to beat the market.
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