A Great Stock for an Aging Bull
Many of the opportunities in the current bull market may have run their course, but Paul Larson argues this very well-known stock is a surprisingly good value right now
Does this bull still have legs? We’re here with Paul Larson, who’s going to talk to us about whether the bull market is still charging ahead or whether it’s stalled and sitting out in the pasture at this point.
Well, thanks for having me. You know, it’s interesting when you look at what stocks have actually done. We are in a raging bull market at this point in time. It may not feel like it, but when you look at the numbers there’s no arguing. We’re in our fourth straight calendar year of gains.
For better or worse, a lot of the bargains that at Morningstar were seeing earlier in the year as well as two and three years ago, a lot of those bargains have evaporated. They’re opportunities that have already been realized. So there are select bargains out there in the market, but they’re further and fewer between than we’ve seen in a long time.
So it’s becoming a stock picker’s market. I find it interesting that we’re in this bull, but people need to keep reminding us because it doesn’t feel like it. Usually in a four-year bull market everybody would feel great, but it feels so grinding and hard even though it’s been a pretty amazing recovery.
Right, and I think it’s just the nature of where we’ve been over the last couple of years with the global financial crisis and the extreme volatility he had in 2008 and 2009.