[quote]Ghost of Igloi wrote:
If you prefer a fake narrative about an improving economy and stock market don't read this fact based, reality check article:
That is a good fact-based reality check. The author is correct that we just recently celebrated the 8 year anniversary of the bull market. The S&P was up 12% last year while small- and mid-caps saw nearly double that. It's been a good time to be invested.
But leveraging oneself to get in the market now is certainly stupid, as the author points out. Valuations are high and we are overdue for a negative event. Much of the recent gains were built upon optimism about what a Republican president could do with control of Congress, but the shine is off that pig as the Repiblicans continue to be dysfunctional.
I've been gradually culling profits in recent weeks in anticipation of the inevitable.[/quote]
I remember in the not too distant past, when another wise investor raised a similar warning at a time when many pundits (and throw me in the mix too) thought the market was overvalued. Glad I didn't listen to the ego fueled fear though else is have missed out on a nice run up, and would be one of those bitter investors constantly posting about how smart they were for selling. Those famous words of warning...
Down to 14,850 from a peak of 15,700 I believe.
What's the bottom?
I am betting sub 13,000