The current bull market in U.S. stocks celebrated its second birthday on March 9.
With human beings, a 2-year-old is a lusty toddler with a lot more growing to do. For a bull-market-run in stocks, however – particularly a bull market as vigorous as this one has been – the two-year mark is a good time to start searching for some serious signs of aging.
Don’t get me wrong: The U.S. bull market could continue – indeed, it probably will continue for some time to come.
But we are almost certainly much closer to its end than we are to its March 9, 2009 day of birth.
And that reality means that we need to invest in a certain way.