Broker Check

July 2015 Perspective: It's a Bull Market Until Proven Otherwise

July 01, 2015

This month’s Perspective comes from Harry Clark, CEO of Clark Capital, one of the investment managers we use. Harry is the author of Clark’s Navigator Report, the attached quarterly market and economic commentary.  We hope you enjoy this month’s Perspective.


To summarize Harry’s Observations:

  • The current bull market in US stocks is getting old by historical standards, but it’s not over
  • A selloff in the 10% range could be good and help the bull market continue [a bear market is a 20%+ decline by definition]
  • Passive bond investors had it rough the first half of this year: US 30 Year Treasuries lost 10.44% in the first quarter and are down 5.92% year-to-date
  • Technical market signals are mixed
  • The Fed adds to the uncertainty: they may or may not raise rates this year, which may or may not lead to a bear market
  • Harry puts the odds about 50/50 that the current Bull market will last through the end of the year


With so much uncertainty, the following months may unfold as a critical time providing insight as to the next phase of the market cycle. Our customized All Weather Portfolios are designed to fit our clients’ needs and adjust to market circumstances as they unfold.