FYI: Bull-market performance is more telling than longevity for the S&P 500 Index, according to Brian Belski, BMO Capital Markets’ chief investment strategist. In a report Wednesday, he compared the S&P 500’s annual rate of change from its March 2009 low with similar rates for 11 other bull markets since World War II. The current pace, 16.5 percent a year, is two percentage points lower than the average for earlier moves. “Most investors seem to be ignoring” the relatively small increase now that the current advance is the postwar period’s longest, Belski wrote.
Regards,
Ted
http://ritholtz.com/2018/08/current-bull-market-meh/