Happy demi-anniversary, stock market rally. Will the honeymoon ever end?
Six months ago, this "relentless rally" took off and it has so far delivered stock investors the kind of bounty that would make for a very good year in any age.
The Standard & Poor’s 500 index bottomed at 1,353 on Nov. 15, as a sharp post-election selloff and policy panic were culminating, giving way to what has been a tireless climb that's confounded the cautious. The S&P 500 is up more than 22% since then, and up 13% so far in 2013, with healthcare, media and financial stocks leading the way — and without so much as a 4% pullback.
It’s fair to say that not many saw it playing out quite this way. Two days after the market low was set, the Wall Street Journal published Learning To Love Volatility, an essay by Nassim Nicholas Taleb, author of “The Black Swan,” the best seller that detailed the world’s knack for delivering unforeseen shocks.
Fair advice — at the time
It seemed like fair advice at the time, withRead More »from Rally Gives Investors a Great Year, in Just 6 Months