The stock market was due for a rebound in 2023. The inflation crisis that started in 2021 led to a disastrous 2022, where the S&P 500 (SNPINDEX: ^GSPC) market index fell by 19.4%.

And 2023 has delivered a powerful recovery. The S&P 500 is up more than 23% year-to-date, lifted by a stabilizing economy and the raging artificial intelligence (AI) mania.

I saw 2022 as a buying opportunity, where lots of high-quality stocks were available at paltry share prices. The tide has turned, and Wall Street is no stranger to overvalued stocks today.

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Source Fool.com