Provided by Clark Kendall
We are currently in one of the longest-running, biggest wealth-producing bull markets in history, but you would not know it from the headlines or the pessimistic mood of investors. On March 9, the bull market in U.S. stocks, represented by the S&P 500, celebrated its seventh year. The index has risen 194% since closing at 676.53 on March 9, 2009. The Russell 2000 is up 213% over the same time period, and the Nasdaq 100 has gained 311%. Corporate earnings are up 148% from the first quarter of 2009.
You may be asking yourself why this bull market has not received more respect. One reason may be that the S&P 500 is down 7% from its record highs in May 2015. We have also experienced two separate drops of more than 10% between May 2015 and now, and the profit levels of American corporations are down 32% from a record high set in the third quarter of 2014.
Perhaps more importantly, the rise has been gradual, and the recovery from the Great Recession has been incremental and below the recovery rate from previous recessions. Wages have barely kept pace with inflation, which means that many people don’t feel any wealthier today than they did seven years ago. Also, investors who didn’t trust stocks, who bailed every time the markets dipped or who sat on the sidelines waiting for a clearer sign of recovery, are NOT wealthier than they were during the Great Recession.
The truth is, only a select few staunch investors have really benefited from one of the steadiest, longest bull markets in our history. Instead of celebrating, most of us are doing what we humans do best: looking for the next thing to worry about.
About Clark A. Kendall, CFA, AEP®, CFP® Clark Kendall has more than 30 years of experience in investment management and wealth management strategies. He is among a select few wealth managers worldwide who have earned the triple designations of Chartered Financial Analyst (CFA), CERTIFIED FINANCIAL PLANNER™ (CFP®) and Accredited Estate Planner® (AEP®). He has been named one of the Washington metropolitan area’s top wealth managers by the National Association of Board Certified Advisory Practices (NABCAP) and the Washington Business Journal.
As a founder of Kendall Capital Management, Clark provides intelligent, independent financial direction to high-net-worth individuals and families in and around Montgomery County, Maryland – particularly Montgomery County’s “Middle Class Millionaires.” His financial planning analysis, strategies and approach to client service are designed with these clients in mind. As a fee-only, independent financial advisor, Clark is a fiduciary who is held to the highest standard of any professional advisor in the industry. He sits on the same side of the table as the client and utilizes his skills and talents to serve clients with these common goals and concerns.
Clark’s approach is to actively manage portfolios that meet his clients’ goals in a cost effective manner. As a fee-only, independent advisor, Clark has no allegiance or conflicts with other financial organizations for trading or product selection.