A Bull Market Should Make Investors Happy. This One Isn’t.

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A Bull Market Should Make Investors Happy. This One Isn’t.
According to Mr. Bernstein, Wall Street experts on average advise investors to put 55
percent of their portfolios into stocks, as opposed to other assets such as bonds.
He said that by this point of a strong equity run, buying stocks traditionally becomes widely accepted
by all investor classes — the consequence of one outstanding stock market year following another.
“Investors have never felt less secure, even though we are eight years into a bull market,” Mark H. Haefele,
the chief investment officer in the wealth management division at the investment bank UBS, told the crowd.
“They are looking for approval to jump on the bandwagon.”
Still, she points out, retail investors have nowhere near the commitment to stocks that characterized past stock market booms.
Liz Ann Sonders, the chief investment strategist for Schwab, said
that until just recently, investors have been highly skeptical that the market’s bull run was justified.

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