Happy Second Birthday, El Toro Loco
Yeah, I call this "the crazy bull" market. I can't say I have understood the last two years' euphoria for just about all stocks, including many that didn't seem to be doing much operationally, that seems to have been painted with a very broad brush. There is still way too much negativity to justify some of the nutty valuations out there. I still think a lot of it is sheerly speculative really.
Anyway, now that this crazy bull market is entering "the terrible twos," I think investors should be more careful than ever to pick high-quality businesses. You run with the crazy bulls, and you could get hurt unless you're careful. Here's my column for Fool.com today on the topic.