Historically Speaking, the Stock Market Has Arguably Never Been Less Attractive Than It Is Now
Although history conclusively favors long-term optimists, the short-term outlook for equities is downright ugly.
Overview
For the better part of the last four years, Wall Street can do no wrong. Since early June, the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) have rocketed to fresh all-time highs.
Although catalysts have been bountiful, with the evolution of artificial intelligence (AI) and better-than-expected corporate earnings each playing a key role, historical headwinds are mounting for the high-flying stock market. While history conclusively shows that optimism and long-term investors are handsomely rewarded -- the S&P 500 has never failed to rise over any rolling 20-year period, including dividends -- the argument can be made that the stock market is less attractive now than it's ever been.
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Originally published at www.fool.com.