I tend to think that it’s closer to a mid 1970s type correction as I believe it is a correction in a secular bull market, rather than a end-of-the-game (like 1980) or a bounce during a secular bear (like 86 and 2000). Whether it’ll turn into a 1975-type 50%+ correction depends largely on inflation. So if you think Ben has at least temporarily tamed the inflation beast then brace yourself for a larger correction. This is one fundamental call that for every person who believes so you can find one that doesn’t, and chances are they both make sense.