00:00 Josh
you know, the bull market just hit its three-year anniversary. And historically, you say, that is a positive milestone. So let’s start there. I’ll I’ll double barrel this one.
00:08 Kevin
Sure.
00:09 Josh
One, just walk me through that. explain that. why is that a positive milestone? And two, I guess, Kevin, if I’m an investor, I hear that and I wonder, okay, so what what are though some big risks that could maybe break that pattern.
00:26 Kevin
Yeah, anytime I see a significant milestone like that reached in the market, Josh, I turn to my research team in New Jersey and I say, is this a good sign that better days are possibly ahead, or is this a sign that the best days were behind us? In this case, it appears as though it was the former. as they were able to go back 50 years and actually see that there has been five previous times when a bull market has reached its three-year anniversary. And in all five times, it continued to move higher by an average total duration of eight years, which would suggest we got five more years to go. The shortest duration was five years, which would suggest we have two more years to go. and in two cases, we hit double digits in terms of total years of that bull market run. Now, of course, this time could be different. Past performance isn’t indicative of future results. We know all of that. But there does seem to be multiple tailwinds that would support the markets moving higher. But I still contend that the areas of the market that led the first three years may very well not be the areas that lead the next three years.