This Bull Market: Are We Late in the Game?

By Rich Weiss - November 19, 2018

You've probably seen the pundits and prognosticators talking in baseball terms about the lifecycle of the current bull market. "We're in the late innings" is what I tend to hear a lot. But I'll politely disagree.

Instead, I think we're actually in extra innings. And here's why I can make that case: while the U.S. stock markets are near all-time highs; the U.S. economy is strong and has a low unemployment rate. But there are also some things that cause me some concern, starting with the narrowness of the U.S. stock market surge. So much of it is confined to not just the tech sector—but only the hottest of tech companies: Facebook, Amazon, Apple, Netflix and Google. If you strip out those names, the broader market would be pretty flat this year.

Am I saying that we're at the top of the market? Absolutely not. It's a fool's errand to try to time the markets—either on the upside or downside. But I would suggest a more cautious, surgical approach to investing in this environment.

Click on the video below to see what else I have to say about this market, and where we might be headed from here.


Transcript

Rich Weiss
Rich Weiss
Chief Investment Officer - Multi-Asset Strategies, Senior Vice President and Senior Portfolio Manager
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      The opinions expressed are those of American Century Investments (or the portfolio manager) and are no guarantee of the future performance of any American Century Investments' portfolio. This material has been prepared for educational purposes only. It is not intended to provide, and should not be relied upon for, investment, accounting, legal or tax advice.

      References to specific securities are for illustrative purposes only, and are not intended as recommendations to purchase or sell securities. Opinions and estimates offered constitute our judgment and, along with other portfolio data, are subject to change without notice.