Is the bull market for stocks moving into a more dangerous phase?

The bull market for stocks, which turns 9 on Friday, is getting up there in age and likely has entered its final phase.

Just as people have life stages, so do financial "bulls," which are long periods of rising stock prices lasting about five years on average. If you invested in the current one, you're happy: Putting $100,000 in a broad index fund at the start of the bull on March 9, 2009, and keeping it there would have boosted your investment to $425,000 today.

But know this: Each phase of a bull is distinctive, with unique rewards and risks for investors, whether they manage a 401(k) or day trade.

"Bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria," said the late Sir John Templeton, the legendary value investor, laying out the four stages of a bull.


Source : usatoday