U.S. stock prices will soon enter their sixth year of the current bull market. We are already in the third longest bull market in market history. Stock prices and profit margins are resting at all-time highs, prices to actual earnings are at nose bleed levels, and there could not be a better word than consensus
to describe the sheer optimism toward U.S. stocks entering the new year.
10 out of 10 professionals polled by Barron's see stocks finishing 2015 at higher levels than they are today. As long as they are in full agreement no one will lose their job next year because "no one could have seen a stock market decline coming."
And the recent cover which needs no introduction: "This Time Is Different."