Despite all the optimism about improving global economic conditions, we think we’re transitioning to more challenging times.

Despite all the optimism about improving global economic conditions, we think we’re transitioning to more challenging times.
This is the first time since 2010 that we have seen synchronized expansion and it seems reasonable to expect it to continue.
It is no secret that the current bull market runs in stocks and bonds are long by historical standards. But bull markets do not die of old age.
The fact that bonds are less attractive on a yield basis today should not detract from their ability to protect capital better than equities in a downturn.
Warren Buffett predicted the Dow Jones Industrial Average (DJIA) will reach 1 million within a hundred years. It’s not so far fetched if you do the math.
With historically low interest rates, investors looking for anything more than low single digit returns are forced into equity markets.