Rarefied Air In The Stock Market
Rarefied Air In The Stock Market
Today we celebrate an impressive victory for Team Bull.Summary
摘要
Today we celebrate an impressive victory for Team Bull.
今天，我们庆祝公牛队取得了一场令人印象深刻的胜利。
Let's briefly recap the numbers.
让我们简单回顾一下这些数字。
- 4 new highs in the last 6 trading days.
- 22% gain year-to-date.
- Up 10 of the last 15 days.
- Up 255% since the bottom in 2009.
- Up 42% since Trump took office.
- 创近六个交易日来的四个新高。
- 今年到目前为止，涨幅为22%。
- 过去15天中有10天上涨。
- 自2009年触底以来上涨了255%。
- 自特朗普上任以来上涨了42%。
Any way you slice it, this 10-year old bull market has put up impressive numbers. But I would be remiss if I didn't point out the risks that go along with the well-deserved victory dance after a historic bull run.
无论如何，这轮持续了10年的牛市已经公布了令人印象深刻的数字。但是，如果我不指出在一场历史性的公牛赛跑之后，伴随着当之无愧的胜利之舞而来的风险，那我就是玩忽职守了。
New Highs
再创新高
4 new highs in 6 days is certainly impressive, but it's not a record. In 2013 we had 5 new highs in a row, then took a 1-day breather, and then made another 4 new highs in a row. That was a Ted Williams caliber new highs streak.
6天内创下4个新高当然令人印象深刻，但这并不是一个纪录。2013年，我们连续5次创下新高，然后休息了1天，然后又连续4次创下新高。这是泰德·威廉姆斯口径的新高连胜纪录。
22% gain YTD
同比增长22%
This is very impressive, but not even in the top 7 of all time. 1933, 1935, 1945, 1954, 1991, 1995, and 1997 were all years with better YTD returns than this year.
这是非常令人印象深刻的，但甚至没有进入历史上的前7名。1933年、1935年、1945年、1954年、1991年、1995年和1997年都是YTD回报比今年更好的年份。
Up 10 of the last 15 days
过去15天中有10天上涨
Again, very impressive but not even in the top 10. See the above for longer streaks of up days.
再说一次，非常令人印象深刻，但甚至不在前10名中。看看上面的更长时间的上涨天数。
Up 255% since the bottom in 2009
自2009年触底以来上涨了255%
That's roughly 10.5 years, or about 15.3% per year compounded. No denying it's an impressive run but is it the best ever, as some pundits are saying? Here is the shortlist of the greatest bull markets of all time.
这大约是10.5年，或者说每年约15.3%的复合增长率。不可否认，这是一次令人印象深刻的跑步，但是否像一些权威人士所说的那样，这是有史以来最好的一次？以下是有史以来最大牛市的入围名单。
- 1982-2000 +666%
- 1871-1906 + 421%
- 1949-1968 + 416%
- 1921-1929 +396%
- 1932-1937 +266%
- 2009-2019 +255%
- 1982-2000 +666%
- 1871-1906 + 421%
- 1949-1968 + 416%
- 1921-1929 +396%
- 1932-1937 +266%
- 2009-2019 +255%
This magnificent bull market comes in at #6 on the all-time leader board. (But it ain't done yet.)
这波壮丽的牛市在历史排行榜上排在第6位。(但它还没有完成。)
Up 42% since Trump took office
自特朗普上任以来上涨了42%
This one is a hot button, so I'll just say that Obama presided over (but did not cause, as Trump did not cause) a 44% bull market over the same time frame as Trump.
这是一个热点，所以我只能说，奥巴马在与特朗普相同的时间框架内主持了44%的牛市(但并没有导致，因为特朗普没有造成)。
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
编者注：本文的摘要项目符号是由寻找Alpha编辑选择的。
