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The Boston Globe

Business

A skeptic and a believer dissect the Dow’s run-up

NEW YORK — Something strange has happened to investors this year. Since the 2008 financial crisis, many had worried that the next big disaster was around the corner, waiting to clobber them.

But even the gloomiest money managers turned cheerful in January, when the Dow Jones industrial average got off to its best start of any year since 1994.

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