My favorite financial journalist is Brett Arends, a regular contributor to The Wall Street Journal and MarketWatch. He’s one of the very few who doesn’t have his head up his you-know-what.
Anyhow, Brett just published a tongue-in-cheek article about all the reasons the stock market is just going to keep going up and up. And I strongly encourage you to read it here.
Some of my favorites of Arend’s 30 reasons not to worry include…
- Yes, stocks look expensive compared with annual sales, net asset values, gross domestic product, the replacement cost of company assets, and the average earnings of the past 10 years. But none of that matters because valuation measures are completely irrelevant.
- You bears “just don’t get it.”
- The S&P 500 is almost three times as high today as it was in 2009. Therefore it must be three times as good a deal!
- People who aren’t bullish are losers and sissies.
- Everybody on Wall Street says this is a great time to buy stocks, and if they don’t know, who does? [Read more...]