The two mostly closely monitored stock-market bellwether indices in the world, the Dow Jones Industrial Average and Standard & Poor’s 500, are making fresh all-time highs, despite bouts of profit-taking. We have discussed in depth the reasons underpinning the current market rally in previous pieces. Just last week, we touched on the subject in an article entitled “Only a fool would call a market top”. In it, we highlighted that historically (going all the way back to 1930), empirical evidence indicates that stocks, in general, have without fail recovered from every downturn to trend higher over time. In other words, investors should always maintain a fully invested, diversified portfolio with a long-term investment horizon instead of trying to time the market.

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