Lack of mirth could make for longest bull in history
by William Watts
The bull market in stocks may be aging, but likely has much more time to run—just don’t look for investors to jump for joy about it, said billionaire investor Ken Fisher.
“I think this is going to be the longest bull market in history and, arguably, the most joyless,” the founder and chief executive of Camas, Wash.-based Fisher Investments said in an interview with MarketWatch on Tuesday.
The current bull market dates to March 9, 2009 and is the second-longest on record, behind the 13-year bull market spanning from 1987 to 2000.
That lack of mirth and the bull’s longevity go hand in hand. Fisher is fond of citing legendary investor John Templeton’s maxim that bull markets are “born on pessimism, grow on skepticism, mature on optimism and die on euphoria.”