We see more room for this Bull Market to run. The Bull Market trotted into its 5th year this spring. The S&P 500 has claimed a staggering 190% gain during this Bull Run, since those 2009 lows. It now stands near all-time highs, and 25% above the previous 2007 highs. Rallies usually die when enthusiasm is sky high. Enthusiasm is not that high. Many investors still do not trust this market – they haven’t embraced it all along. That lack of faith is one of the most compelling aspects of the bullish case for stocks. History has proven that great market meltdowns take a generation to rebuild.
We stand by our 2014 investment themes: US Tech, US Biotech and US Energy. In Technology, smart devices are getting even smarter. In Biotech, novel science and cutting edge medicine are as fertile as ever. Energy production is at multi-decade highs, and energy independence is coming. It’s all happening on American soil.
The US has led the charge the past 5 years. You might be wondering if we’re looking overseas again. Much of the world has not enjoyed the same success as the DOW and S&P. This could be changing.