Few stocks, speaking for the masses The most recent leg of the market has given us a false impression of the strength of this bull. They went back to 1976, subtracted out the best 50 stocks each year, and then recalculated the reported performance of the market. Thus, the broad market indices returns for 1998 and 1999 mask the underlying anemic performance for all but a very few stocks. Consistent with my written views of late, I m actually not counting this market out for the year especially non-technology stocks. Whether or not it becomes a market-wide bear, has yet to be seen, even if it s starting the smell that way.
Bears are camera shy.
The InvestMentor is William L. Valentine, CFA, President of Valentine Ventures , LLC, an investment manager of individuals' assets. All rights reserved. Nothing in this article is to be construed as advice to buy or sell a security.