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Out of respect for the strength and sustainability of one of the greatest market advances in the modern era we thought about titling this piece “Killing The Bull Won’t Be Easy!”…but that sounds too infinite. We all know nothing lasts forever. Since the lows of March 2009 the S&P has advanced 190% while the small cap focused Russell 2000 has rallied 250%. The aggregate wealth of U.S. households, including stocks and real-estate holdings, just hit a new high of $81.8 trillion. That’s more than $26 trillion in wealth added since 2009. Impressive stuff. What’s more notable is that the S&P has gone over 650 days without a major correction (-15% or more). Our profession is not in the guarantee business, in fact we are legally bound not to offer up such assured prognostication, but here is one forecast that is about as sure as you can get….this bull will die someday. Click the button below for our review of Q2 and outlook going forward.

Q2 2014 Market Insights

Doug Couden
Doug Couden
CHIEF INVESTMENT OFFICER & PARTNER

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