If the last two market days are any indication, that record could be just one of several broken in the year 2015.
I remain convinced that U.S. stocks are the place to be and that Wall Street is enjoying a secular, or long-term, bull market, based on a variety of positive influences:
- Historically low interest rates
- Inexpensive energy
- A manufacturing renaissance
- Technological innovation
- Accelerating growth
- Decelerating deficits
- A confident consumer
- Washington working again
- More robust demand for residential real estate
I have been operating on this thesis for close to three years now and, with the exception of a meaningful rebound in real estate, more has gone right in each instance than wrong.
Read more: However, there are risks in 2015, starting with the one that worries me, in some ways, the most.