That sure is the consensus. We hear it all the time from the talking heads that no way is this going to be a 2008ish market. Other than of course from the usual suspects in perma bearland who think another 2008 and 1973/74 is always around the corner. Anyone here think we could be in for another 2008? I don't because my bias and conditioning is that events like 2008 and 73/74 are generational occurrences. But who knows.
Idle thoughts - GILD and CELG are getting a nice bid today amid another woeful day for biotech due to a nice write up in Barron's. Will they be the leaders on the next rally? JNJ hanging tight too. I wish there was more fear in the markets instead of the don't worry be happy I am seeing. Whoever thought the 10 year Treasury would be below 1.80% this year? As for the another 2008, Black Swans can't be seen ahead of time (or can they) So not sure if we do have another 2008 it would be because of the effects of oil ala defaults in high yield/banks etc. Would it be from the fear of who is elected President later this year? From a contrarian point of view (where we don't get close to another 2008) maybe what we need are more mainstream analysts and investors coming over to the opinion that yes, another 2008 is upon us. Or maybe just more fear ala the VIX over 40 for a few days.
Sorry for the philosophical ramblings about nothing.