Bob Doll Says Bull Market is Likely to Continue

Nuveen’s chief equity strategist Bob Doll says the global stock market should continue to rise despite risks, according to his recent Barron’s article. Doll argues that investor confidence has increased with respect to corporate earnings and the global economy and that, although volatility may rise, equities should outperform bonds and cash in the year ahead. Inflation, he says, remains “well contained in most major markets outside of the United Kingdom,” and that investors are banking… Read More

Investing Legend Birinyi Remains Bullish on Stocks

As the stock market continues to climb and some investors think about pulling back, Laszlo Birinyi is “going in the opposite direction, placing more bullish trades on the S&P 500,” according to a recent article in Business Insider. The investing legend, the article says, argues that “ample cash remains on the sidelines, waiting to be deployed,” adding that “as stocks continue to show strong fundamentals, such as earnings growth, traders will continue to find excuses… Read More

Data that May Support Continued Bull Run

A recent article in Bloomberg outlines the viewpoints of a group of strategists and investors (with supporting data graphs) regarding to what degree the current bull run may have staying power. Here are a few: George Pearkes, of Bespoke Investment Group shares concern for the “decline in, and volatility of, spreads on securitized debt,” using the example of auto asset-backed securities today versus before the financial crisis. Before the crisis, he says, they traded in… Read More

Shiller Says Bull Could Run for a While

When asked for his outlook on the market in a recent CNBC interview, Nobel Laureate Robert Shiller says investors should keep some stocks in their portfolio because the market “could go up 50 percent from here.” The economist, who helped develop the cyclically-adjusted price-to-earnings ratio (CAPE) market valuation measure, says that although the current CAPE (29) is above the 17-year historical average, he isn’t calling for a market decline. That said, he notes that diversification… Read More

The “Raging Bull” Could Be Running Out of Steam

The mood surrounding today’s stock market seems to be rife with contradiction, according to an article in yesterday’s Fortune. “At today’s elevated prices,” it argues, “the market math contradicts Wall Street’s sunny outlook.” The article cites a recent interview with Goldman Sachs’ chief global equities strategist Peter Oppenheim that supports the thesis. While Oppenheim argued that the Trump effect has “overpriced the ability of the administration to push through some of the things the market… Read More

The Stubborn Bull Market Continues to Advance

While waiting for the other shoe to drop has become a favorite pastime for many in the investment community, the current bull market appears to be pretty sturdy. Precisely why, according to The Wall Street Journal’s Steven Russolillo, “more milestones could be in the offing.” Data from the Investment Company Institute shows that, post-Brexit, investors yanked nearly $8 billion from U.S. equity funds (the fourth biggest weekly withdrawal of the year). So far this year… Read More

Investors Not Buying this Bull Market

Even though the S&P continues to hover over a new record high, investors don’t seem to be buying it–metaphorically or literally. This according to journalist James Mackintosh of the Wall Street Journal. Instead, funds are flowing into safer investments. Not so much in the direction of bonds, which are showing paltry returns (the 10-year Treasury bond has hit new lows) or in sexy stocks, but rather in “bond-like” equities. The two sectors with the most… Read More

Will This Rally Be Different?

As the stock market shows signs of a rally much like that of 2015, should we be optimistic that it will reach new highs or prepare ourselves for another disappointment? In a recent article in Barron’s, James Paulsen of Wells Capital (a unit of Wells Fargo & Co.) thinks it could be different this time, and here’s why: This rally is seeing a much broader participation than that of 2015, when it was led by… Read More

The Uniqueness of the Current Bull Market According to S&P’s Stovall

Sam Stovall, Managing Director of US Equity Strategy for S&P Global Market Intelligence, writes that “this is one of the few times in which history might not even be a good guide . . . due to the limited number of times bull markets have made it this far.” He notes that “assuming this 12th bull market since WWII is still alive, it has lasted 84 months, vs. the average age of 56 months” and… Read More

Sonders: Market Most Likely in Post-Echo Bull Phase

Liz Ann Sonders, chief strategist for Charles Schwab, outlines the four phases of the stock market over a full market cycle. Since 1960, the market can be seen following the four distinct periods: recession bear, post-recession bull, echo bear and post-echo bull. Recession Bear: these are the big bear markets, usually lasting a few years and averaging declines of 30%. The 2007-2009 bear market, as Sonders points out, fell by 54% so that was a… Read More