Below is the five-year chart of the S&P 500. Without a doubt, the bottom that was reached in March 2009 was exceptional, but the four plus years subsequent to that have still been quite an impressive run.
While it is possible that the market might continue climbing steadily higher for the next five years, chances are that we aren't going to see the entire market double again.
Valuations aren't as attractive now as they have been in recent years and that means that we as investors need to work harder and be more careful.
When the market is rolling like it has been, everyone does well. It is like sailing with the wind at your back. When...
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