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Investors were wrong about an impending recession this year. They were similarly wrong about big tech being immune to rate increases and about the market as a whole being in a bubble. But are they wrong about the economy heading for a soft landing and lower interest rates next year? That’s the perennial question: Does consensus mean anything on the street, or are talented traders just as susceptible to wishful thinking as everyone else? Unfortunately, all we can do is wait and see.

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