Why Is No One Talking About the Stock Market's All-Time High?
U.S. stock markets* are flirting with all-time highs (it may happen today) but I am hearing and reading very little about it. Why is that?
I can think of a few possible reasons, and am eager to hear yours.
1. After the spectacular meltdown of 2007-2009, a lot of people are generally gun-shy and/or inattentive.
2. Since so many people sold into the teeth of the meltdown, and stayed on the sidelines since, a new high is to them relatively bad news.
3. Because the economy itself is not quite roaring, a roaring stock market doesn’t seem legit (unless, of course, you consider it a leading indicator, which it usually is).
4. Just “getting back” to an all-time high from more than five years ago is, at best, a muted victory.
All that said, I remain surprised by the lack of chatter.
*The Dow and S&P 500, at least; the NASDAQ is still a very long way off its tech-bubble high.