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What Yogi Berra Would Have Said About This Bull Market
Market cycles tend to last for years, and major turning points are few. So how do we know if stocks are nearing a turning point?
The S&P 500 hasn’t fallen by at least 20% from a previous high since March 2009. As commonly defined, this bull market is nearly 3,750 days old, the longest in the S&P 500’s more-than-90-year history. That’s twice as long as the average bull market, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. Since 2009, stocks have more than quintupled, counting dividends.
Or, as Yogi Berra might have said if he played the market: All we can know for sure is that it’s later in this cycle than it used to be.