Whether you are a proponent of the Federal Reserve's unprecedented monetary policies there is no denying it has driven equity prices higher. The S&P 500 Index (INDEXSP:.INX) is up 170% since the March 2009 low 40% over the past two years and 26% year-to-date. There were just two pullbacks in excess of 10% during the 2009 to 2011 period and just one pullback in excess of 5% during the past 18 months meaning we are in one of the one of the largest longest and lowest volatility bull markets ever. So with the market at all-time highs and market multiples ...![]()
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