The S&P 500 rose 0.5 percent yesterdayon speculationearningsgrowthwill helpequitiesreboundfromtheir lowest valuationssince the bull market began in 2009.
One thing certain is that the last phases of bull markets, the final thrust driven by manic speculation and every cabbie and shoeshine getting into the game, can be stunning in their irrationality.
Horatio Nelson's price to win the Epsom Classic had plummeted after speculation Fallon, who also had the option of riding Coolmore's Papal Bull from Sir Michael Stoute's yard, held a preference for him.