Why This Historic Bull Market Has Precious Little Street Cred

Photograph by Spencer Platt/Getty Images

The current bull market cycle in the U.S. just sailed past the four-year mark on March 9—and the Dow Jones industrial average hit a new all-time high of 14,397 the day before. Yet stocks as an asset class continue to be viewed with suspicion, despite strong corporate profits and the housing sector recovery. Big Picture blogger and Fusion IQ Chief Executive Officer Barry Ritholtz argues the U.S. Federal Reserve’s ultra-loose money policies have created a market artificially stoked on monetary steroids. And just as individual investors have finally ventured back into the equity market, major hedge funds are starting to rotate out of stocks, betting the unprecedented government intervention propping up the market won’t last. This bull market still has serious self-esteem issues.

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