USA TODAY International Edition
THE RELUCTANT BULL
This bull is invested in stocks, but reluctantly and cautiously as he or she is well aware of risks that could derail the market’s uptrend.
Jeff Carbone, managing partner at Cornerstone Financial Partners, admits he’s a “reluctant bull” — at least for now.
What worries him? Pricey stock valuations and a market being led by what are normally defensive sectors, such as utilities and consumer staples.
Add in next month’s Federal Reserve meeting on interest rates, the coming presidential election and the fact the market is moving into what historically has been a seasonally tough time for stocks, and you can understand his lukewarm bullish stance.
“It gives us some reluctance to be invested,” he says. “But there is more fear of being out of the market than being in it.”