Agree, but again 1929 is an exception because FDR’s policies utterly destroyed any chance for business recovery. A better example would be 1987.
Sure..but the odds that Biden’s policies are going to be just as bad as FDRs, if not WORSE are IMHO quite high / almost certain. Just look at the insane spending ($1.9T stimulus that’s mostly not needed and which only ~9% actually has anything to do with COVID..$2-3T infrastructure bill..$12T [!!!] “reparations”)..that’s gonna be a disaster if even a third or quarter of all that passes.
Let’s face it..we’re in an environment with the current regime that none of us have ever, ever seen before in US history. All bets are off at this point and I don’t think any of us can count on a “normal” investment climate until we get to a new administration in 2024.