The Dow Jones industrial average hit the 25,000 mark for the first time Thursday, and I confess it made me giddy. The feeling lasted about 15 minutes until my head cleared and I said to myself, “Sooner or later, this bull market will pass.”
But when will it pass? And is it too late to jump in and grab a ride while it’s still going up?
“I can relate this question to family discussions we just had at Christmastime,” said Suzann Pennington, chief investment officer at Foresters Asset Management. “I have a brother who is almost 60 and looking toward retirement in five to seven years. He asked me if he should dare to put more money into the market.”
“I said, ‘You have to.’ It goes back to the expression, ‘Make hay when the sun shines.’ The sun is shining. We have synchronized global growth for the first time since the Great Recession.”
Yes, equities have had an incredible, nearly nine-year run. The Dow was up about 25 percent last year and the Standard & Poor’s 500-stock index was up about 20 percent.
Pennington is one of a host of Wall Street wags who say worldwide fundamentals — interest rates, unemployment, economic growth — are so good that the stock market could keep climbing for a year or more.
Dive in, says super-bull Ivan Feinseth, chief investment officer at Tigress Financial Partners.