As the market bump along near all-time highs, people are spooked. Trump spooks them. Clinton spooks them. Brexit spooks them. China spooks them. The Fed spooks them. Rich P/E’s spook them. There’s plenty of spooks out there. It is the classic wall of worry.
However, as the link notes,
a continued advance is much less certain if the wall of worry forms near a major market peak, in which case a subsequent decline is more likely
So we will see. I will go with the conventional wisdom for now, and say the markets will climb this wall of worry, and that this is a good time to be looking for stocks.
Note too that by definition, after a major market peak, stocks fall and the wall of worry breaks down. But how long did it run before that point? Maybe we’re 10-20% away from that major market peak.