The long slide in oil prices, the rising US dollar and the continuation
of the equity bull market made 2014 the best year for the strategy since 2008, with returns of 10.7 per cent in such hedge funds, according to HFR, the data provider.
Matching the torrid pace of the first quarter was unlikely, however when put together, the first half of 2017 has demonstrated the resiliency
of the equity bull market.
What is the probability that January's optimistic extreme coincided with the top
of the equity bull market?
«M&A activity globally is very high, which is common in the late stages
of an equity bull market as both private equity and corporate owners look to cash in on rich valuations,» Lait explains.
And good, old - fashioned profitability has historically been the biggest driver
of equity bull markets.
Not exact matches
Comments: «We continue to believe that US
equities are in the midst
of a major
bull market that could ultimately rival 1982's
bull market... US corporate profits continue to be the healthiest in the world.»
In reality, when investors are paying extremely high prices for each dollar
of earnings that
equities produce, market math dictates that future returns will be the reverse
of what the
bulls are claiming — extremely low.
Michael Wilson, chief U.S.
equity strategist at the firm, said in a note Monday that the S&P 500 could reach his «
bull case» target
of 3,000 «by the middle
of the year as investors bid up P / Es toward 18.5 x on one last surge
of euphoria before settling back down by year end.»
And what's remarkable about this
bull market since it began is that on a cumulative basis, not a single dollar
of net new money has come into U.S.
equity [funds].
LONDON, Jan 31 (Reuters)- Global investors trimmed
equity holdings by 1.2 percentage points in January, concerned that markets have grown complacent after a thundering
bull run and seeing risks
of an inflation wake - up call.
LONDON, Jan 31 - Global investors trimmed
equity holdings by 1.2 percentage points in January, concerned that markets have grown complacent after a thundering
bull run and seeing risks
of an inflation wake - up call.
«The
bull case has eroded a little bit,» Lori Calvasina, head
of equity strategy at RBC Capital Markets, told CNBC's «Futures Now» last week.
Morgan Stanley's
equity analysts recently declared we're in the full - blown «euphoria» stage
of this
bull market.
It didn't work, as Chinese
equity markets continued their descent on Monday, fueling worry because it is unclear how much
of the country's
bull market was funded by individuals borrowing to buy stocks.
In turn, the manufacturing - sector recovery, combined with a low neutral federal funds rate, is increasing «the odds
of a long lasting US
equity bull market,» Einhorn wrote.
«In many instances, the investors involved at the venture level and,
of course, the people running the business think they actually have a good company,» notes Tom Stephens, director
of Institutional
Equity Sales at Tucker Anthony Inc.'s office in Washington, D.C. «But the truth is, in
bull markets people believe in bullshit.»
Even one piece
of BAML's own data gives
equity bulls a reason to stay calm.
9An example
of a sustained rise in asset prices that was not a bubble is the
bull market in U.S.
equities that began in the 1950s.
Global
equity investors entered 2018 seemingly happier than at any stage since the
bull market began during the first quarter
of 2009.
«Whenever you hear in the media that
equities are dead that's usually the start
of a huge
bull market.
Why face the economic, political, and currency - related risks
of investing internationally when information on domestically based
equities seems far more transparent, U.S. markets more liquid, and the U.S.
bull market still energetic?
Well, it will certainly lift the rate
of return investors expect from stocks, but
bulls insists that with earnings growing 20 percent this year, the expected return may be sufficiently high, so that there will not be any shift out
of equities, that corporations are going to make enough money to more than compensate for higher rates.
On Jeremy Siegel saying earlier today that it's usually the start
of a huge
bull market when the media pronounces
equities dead:
While the pace
of monetary tightening is likely to be gradual, more than a few investors are worried about the
equity impact
of any marginal tightening, believing that the entire edifice
of today's
bull market has been built on a foundation
of cheap money.
The difficult feature
of the interim, at least for hedged
equity strategies, is that as the «troops» diverge from the «generals,» portfolios that aren't comprised
of the largest and most speculative stocks
of the preceding
bull market often underperform the indices during top formations.
Global
equity markets rallied during the first quarter
of 2017, as the current U.S.
bull market celebrated its eighth birthday.
Our fourth open position in the model trading account, PowerShares U.S. Dollar
Bull Index ($ UUP) long, is also showing an unrealized gain, but has a low correlation to the direction
of the
equities markets either way.
The current
bull market for U.S.
equities is approaching its ninth year and if sustained until August, will be the longest running
bull market in the history
of the S&P 500.
If you want to ensure you get the big returns from stocks that investment writers highlight when urging you to invest in
equities, you need to buy during bear markets to make up for the lousy returns from those years when you buy at what proves to be the top
of a
bull market.
While it may be easy to determine that one does not want or need bonds in the midst
of a rampant
bull stock market run, the next sharp
equity correction may determine whether you are correct in that assessment or not.
, San - Lin Chung, Chi - Hsiou Hung and Chung - Ying Yeh examine the predictive power
of investor sentiment for different kinds
of stocks during
bull (low - volatility, expansion) and bear (high - volatility, recession)
equity market regimes.
Consequently, in the unlikely event that the current
bull market in US
equities continues for one more year and gold - mining stocks trend upward during that year, the gold - mining sector will then be vulnerable to the downward pull
of a general
equity decline.
One China
bull presenting an excellent case for the country was Jing Ulrich, JP Morgan's managing director and chairman
of China
equities and commodities group.
Before The Bell - At the midway point
of October, a month that historically, at times, has proven to be very difficult for those long
equities, the
bulls are more than holding their own.
So while you probably don't want to dump all your stocks because we are still in the midst
of a
bull market, you probably do want to shift your exposure to protect yourself from the coming decline in
equities.
Just consider that their own yield curve lies at the heart
of the current
equities bull market.
If an investor had got nervous in 1996 and sold down his
equities, he'd have missed out on much
of that great
bull market.
Can a basket
of equities backed by a broad cross-section
of commercial fantasy images developed over the course
of a
bull market reflect the end
of that
bull market ahead
of other major indexes?
In a gold
bull market the «value»
of an ounce
of gold rises relative to the major
equity indices and both senior currencies.
Before late January injected a surge
of volatility into
equities, driven by investor fears over a handful
of factors including rising rates, tightening monetary policy, more regulation on big tech and rising global trade tensions, investors were smooth sailing on the nine - year
bull market.
Looking farther back, the vast majority
of the railroad
equities have also outperformed the leading market indices over the course
of the current
bull market.
Has the seven - year
bull run in
equities left you feeling nervy in the face
of a potential rate hike in the U.S. and weakening growth in China?
It captures the collective sentiment that
equities, despite a massive
bull run and rising valuations, are one
of few viable asset classes to park capital.
No doubt there is a clear
bull case for why buybacks could prove the savior, rather than the Achilles» heel
of U.S.
equity markets this year.
Although the stock
bulls may salivate over the prospect that increased saving will mean more
equity purchases, we believe that most
of the money will go to debt repayment — the flip side
of a saving spree.
A year ago, Templeton Global
Equity Group's Norm Boersma, Cindy Sweeting and Heather Arnold penned an article for Beyond
Bulls & Bears discussing the signs
of a revival in value stocks.
Dougie Kass is looking for a raft
of equity offerings from bankland after the results
of the tests, and if so, the new dilution could, in fact, put a lid on the bank move... or the
bulls could say «Look!
But the capital distributions at Direxion also extend to a host
of equity investments, including a
bull and bear pair
of ETFs focused on gold mining companies, which is more
of a mystery.
In the introduction to the last
Bull Bear Market Report, I further developed the thesis that an impulsive equities bull market began in November 2012: Most analysts continue to make the mistake of believing that a secular bull market started in March of 2
Bull Bear Market Report, I further developed the thesis that an impulsive
equities bull market began in November 2012: Most analysts continue to make the mistake of believing that a secular bull market started in March of 2
bull market began in November 2012: Most analysts continue to make the mistake
of believing that a secular
bull market started in March of 2
bull market started in March
of 2009.
High - yielding «bond proxy» stocks earned their stripes as
equity safe havens for much
of the
bull - market period, as bond yields were slow to revert back to pre-crisis levels.