The Bull Market’s Age Is Having a Varied Impact on Investor Attitudes


This week’s AAII Sentiment Survey special question asked AAII members how, if at all, the current bull market is impacting their attitude towards U.S. stocks. Answers were varied. About 36% of respondents said the current length of the bull market is having no impact. Some of these respondents said they were more focused on valuation measures, some are more focused on Federal Reserve policy and others simply said they are focused on the long term. About 18% of respondents indicated they are more optimistic because of the bull market’s resiliency, while 12% said they are more pessimistic because of it.

Here is a sampling of the responses:

  • “Not much, because I invest for the long term.”
  • “I am more optimistic that the market has more upside before hitting a correction.”
  • “I’m cautiously optimistic, but will be paying close attention to the Federal Reserve and interest rates.”
  • “I’m definitely more cautious; waiting on pullbacks and analyzing stocks more thoroughly.”
  • “It’s harder to pick undervalued stocks.”
  • “I think we’re due for a correction, but the long-term outlook still seems positive.”
  • “It’s making retirement a lot easier.”

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