2024 Isn’t 2021. It’s 2000. But Don’t Panic

"This time is different." So said Goldman's David Kostin in his latest. Don't laugh. Or if you do, just know that Kostin gets the joke. He's fully aware that those four words, arranged in that order, are dangerous in the market context, and in a lot of other contexts besides. He was addressing the perception that 2024 is beginning to look a bit like 2021, something I've been on about at length recently, including in the latest Weekly. Part and parcel of the ostensible analogue is the outperfo