The stock market has not been this richly valued or avidly loved in two years
Traders work after the opening bell at the New York Stock Exchange (NYSE) on August 5, 2019 in New York City.
JOHANNES EISELE / AFP / Getty ImagesIn late January 2018, Wall Street reached the moment of “peak happiness,” which marks the highest levels of valuation, investor confidence, financial liquidity and risk appetites achieved during this decade-long bull market.
Both now and then, the S&P…