, Columnist
What If the Bull Market Just Never Ends?
It’s not obvious what will stop the longest run in history.
Dizzying.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
Did the everlasting bull market just get yet another lease on life? We may soon find out.
Yesterday the S&P 500 reached a new record high, erasing all of last year’s swoon that very nearly took the index down 20 percent, the technical definition of a “bear market,” a creature that has been hibernating for more than a decade. Meanwhile, this incredibly resilient bull market keeps adding to its record as the longest in history. And Charles Lieberman suggests there’s no reason to think it can’t keep going indefinitely. For one thing, Charles notes, stocks are still historically cheap relative to corporate profit forecasts.