Monday, 12 March 2018

Don't Be Dumb: Stock Prices Will Probably Be Higher in 10 Years.

The bull market celebrated a big birthday this week. But those calling for a market top may want to simmer down just a bit.

A cheery rendition of happy birthday is in order. This bull market just celebrated its ninth birthday.

On Monday, March 9, 2009, the stock market hit a bottom. In the nine years since, Wall Street has rejoiced at enormous gains in the stock market that have surely made more than a handful profoundly wealthier this decade than they were last.

In the past nine years, the Dow Jones Industrial Average has gained 280%. The S&P 500 is up 312%, and the Nasdaq Composite has rallied 496%.

In these nine years and 109 months, the bull market has become the second-longest -- and second-largest -- of its kind. The only run to beat out this one lasted 114 months in the 1990s.

"We think this will be the longest in U.S. history," says Kurt Spieler, CIO for wealth management at First National Bank of Omaha. Spieler sees the run sustained at the very least into 2019.

With the stock market leaps and bounds ahead of where it was back in '09, it has to be one of the dumbest things ever to happen on Wall Street not to have bought into the stock market at this time nearly a decade ago.

If you didn't buy in 2009, you probably weren't alone. There was panic on Wall Street. Companies were going out of business. And stock prices seemed to know only one direction, down.

By Kensey Grant.

Full story at The Street

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