by Scott Krisiloff, Avondale Asset Management
If you count March 6, 2009, when we rallied from an intraday low of 666, as the first day of the bull market, yesterday marked the 2000th calendar day of our current bull. Ā How fitting then that yesterday was the day that the S&P 500 closed above 2000 for the first time.
At 2000 days old our current bull market is now the fourthĀ longest bull market since 1928. Ā Since then, the only bull markets that have lasted longer were in 1974-1980 (2,248 days), 1949-1956 (2,607 days) and 1987-2000 (4,494 days). Ā Adding those bull markets together, the market has existedĀ in a more extended bull market than this one on 3,349 calendar daysāa little more than 10% of the time.
Weāve come a long way since March 6,Ā 2009. Ā Back then we were talking about nationalizing the banking system. Ā Nobody on that day would have dreamed that weād be here 2000 days later.
For a stroll down memory lane, here are some of my favorite financial catchphrasesĀ that encapsulate what weāve been through in the last 5.5 years: āToo big to failā, āgreen shootsā, āquantitative easingā, āV-shaped recoveryā, ānext shoe to dropā, āthe new normalā, āflash crashā, āPIIGSā,Ā ādouble dipā, āQE2ā³, āarab springā, ādebt ceilingā, āoperation twistā, āsequestrationā, āQE3ā³, āfiscal cliffā, ātaperā, āgovernment shutdownā, āpolar vortexā, āgeopolitical tensionsā, and of course Ā āgreat recessionā.
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