The DOW Jones Index is just a few thousand trades from the 13,000 mark.
As of market close on Friday the DOW sat at 12,949.87. That seems almost impossible to believe considering the financial crisis and Great Recession of just a few years ago. The highest the market has ever closed was 14,164.53 back in October 2007. The S&P 500 is currently trading at a P/E Ratio of 22.74 and the average over the last 140 years or so is around a P/E of 16.
Is the economy finally gaining so momentum and getting on stable feet? Or is this just another run up before another big crash?
As Warren Buffett is often quoted: “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
The ultimate question is: are a majority of people out there currently fearful or greedy?