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“Signs of recovery are picking up worldwide.”

Edward A. Ciancarelli, MBA, MSF, CFA

Research Analyst

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The Equity Bull Market is not Running on Empty

Despite its age, the bull market for equities looks well-positioned to continue, putting it as the second longest in American history.  Corporate profits have emerged from a so-called “earnings recession,” consumers are repairing their balance sheets and starting to spend again, and signs of recovery are picking up worldwide.   These factors appear to be combining to form a third leg to the current bull market.

The backdrop has become more attractive for equity investors based on the following points.

Taken together, these signs appear to point to a more favorable environment for equities over the medium term.  While the risk of a near-term pullback or correction remains, we do not see the conditions forming for the next bear market at this time. Rather, we likely would view a near-term price consolidation as a healthy reset that would allow fundamentals to catch up to valuations.

Edward A. Ciancarelli, MBA, MSF, CFA

Edward is a Research Analyst of The Colony Group with over 14 years of experience in the investment industry. He is responsible for equity research and analysis for the firm, with a particular focus on the technology sector of The Colony Group’s mid- and large-cap strategies.

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