If there was CNBC back in '30, I bet they would have been calling bottoms after that monster rally from -47% (not to mention eleventy other times). Stocks were cheap, generational buys, valuation is too good to pass up, gotta have a long-term outlook, worst is behind us.
Edit: As you can see in '29/30 the market rallied for 120 days. So in case you are wondering just how long irrational behavior can persist in a market, there you go.
