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Nicholas Colas

The Real Threats to the Equity Bull Market

To continue, high valuations and low volatility require stable economic growth and predictable earnings.
Charging ahead.

Charging ahead.

Photographer: David Ramos/Getty Images

The current move higher for U.S. stocks may look like a bull market, but it shares few characteristics with an actual bull. 

We need to look beyond the barnyard comparisons to understand the future direction of domestic equities. The real risks are entirely human and center on how investors factor long-term uncertainty into asset prices.