How much runway left in this bull run?
We're 2+ years into this rally. Valuations stretched in pockets, but earnings growth still solid in mega-cap tech and AI infrastructure names. Fed's done hiking, inflation cooling — that's constructive. History says bulls don't die of old age, they die from recession or policy mistakes.
Right now? No recession in sight. Corporate balance sheets clean. Buybacks strong. AI capex cycle real and multi-year.
Could we get a 10-15% pullback? Sure. Happens in every bull. But calling the top here feels early. Quality compounders with pricing power, margin expansion, and capital discipline — those still work. Stay invested, stay selective, manage position size.
This doesn't run forever, but it's not over yet.
We're 2+ years into this rally. Valuations stretched in pockets, but earnings growth still solid in mega-cap tech and AI infrastructure names. Fed's done hiking, inflation cooling — that's constructive. History says bulls don't die of old age, they die from recession or policy mistakes.
Right now? No recession in sight. Corporate balance sheets clean. Buybacks strong. AI capex cycle real and multi-year.
Could we get a 10-15% pullback? Sure. Happens in every bull. But calling the top here feels early. Quality compounders with pricing power, margin expansion, and capital discipline — those still work. Stay invested, stay selective, manage position size.
This doesn't run forever, but it's not over yet.