The Bull has been running hard for 10 years now. Indicators are clear that we are in what Jeromy Grantham, co-founder of Boston’s GMO, calls a “Super Bubble”. This has only happened 4 times in the last 100 years – 1929, 1972, 1989 in Japan and 2000. One indicator is certainly the Buffett Indicator which tracks the ratio of the value of all public stocks in the US and GDP. We are currently at 218% which is 70% above trendline.

According to Grantham, the Russell 2000 small cap stocks are down and not making any money right now. In a Bull market, the Russell index should be up 30%.