The market hits an all time high but most people think the world is coming to an end. In addition, lots of people say 'so what?' because the market is getting a bit ahead of where it was seven years ago. Number wise, yes but economically no. Seven years ago we had the dot.com nonsense with PEs so out of whack that the bottom had to fall out and it did.
Check out this MarketMinder.com article on the new high. It has one line that should be imprinted on your investing eyeballs so you see it every day which is---Pessimism and undue worry are the stuff of bull markets; euphoria is the bane.
Remember that and read on.
- Yesterday the bull market celebrated its fifth anniversary, but you’d never know it by reading financial headlines over the same period
- Fears about stocks gaining “too much too fast” and “too many years of an up market” aren’t based in reality or logic
- Strong economic and market fundamentals supporting stocks’ climb are still in place—making the immediate future look bright
MarketMinder doesn’t like to dwell on the past because it can’t tell you much of anything about the future. But we feel it’s incumbent upon us to highlight a scarcely recognized fact: The bull market for global stocks is five years old. Here’s one of the few acknowledgements we found:
By David Landis, Kiplinger