The stock market is at all-time high and this last bull run has been the longest in history.<p>However, I'm increasingly nervous that a big downturn is around the corner and am considering moving a significant portion to bonds. COVID is still ravaging my local economy and I'm concerned about the new variants.<p>But when I poll my friends, everyone seems to be super optimistic and pouring even more money into the stock market - and they're reaping big gains!<p>Do you think a significant downturn is coming (as has followed all major bull runs in my brief survey of history)? Or is something fundamentally different this time about this bull run that I don't understand?
The most expensive four words in the world: "This Time It's Different!"<p>That's what they were saying when the Dot.Com Bubble was at its height. But it wasn't, of course. And many blue chip companies died a horrible death, as well as the Dot.Com Darlings