January 1, 2018

On the basis of an improving global economy and the prospect of corporate tax cuts and in spite of headline risks from North Korea and the Trump-Russia investigation, stocks soared to new highs in 2017. The Dow Jones Industrial Average gained 25% for the year, its best performance since 2013. More remarkable than the gains themselves was the way they got there, with historically low volatility and a seemingly never-ending march upwards. Let’s consider some of the records set by markets last year.

At 3,219 days, this became the second longest bull market in history. The S&P 500 has returned 295% in this period, making it also the second strongest bull market in history. In both cases it is only eclipsed by the boom years of 1987 to 2000 (4,494 days and cumulative gain of 582%). An optimist might look at the math and say the market is poised to double over the next 3 ½ years, but a revers...

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Marble Trail Financial is a joint venture of Addison Advisors LLC dba Marble Trail Advisors, Davis Associates,  and Misasi & Company LLC. Investment advisory services are provided by Marble Trail Advisors, a registered investment adviser, and tax preparation and accounting services are provided by Davis Associates and Misasi & Company LLC.

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