If the 2000-2003 bear market was one of the longest bear markets in history, this resilient bull market, which has now lasted over 52 months also happens to be one of the longest bull markets without a meaningful correction. It is getting harder and harder to find good opportunities whether you look at different asset classes (stocks, bonds, real estate, commodities, etc.) or in geographically diverse locations. Without insinuating that we are in the midst of a global bubble (the euphoria that usually defines bubbles is largely missing), I can say from experience that it is becoming harder and harder to come up with one or two new ideas for the newsletters each month. I am still trying to figure out if I really admire or am perplexed by some stock pickers who come up with ideas almost on a daily or weekly basis.
If you are familiar with options, straddles and strangles, please feel free to skip through the next two paragraphs.