Hmm… It seems like the first two items just about cancel each other out. Stocks are doing well in dollars, but a number of folks have shown Dow vs. Oil, Dow vs. Gold graphs that show the market is flat due to inflation. Now, if the market is flat in real value, do we need to worry about a four-year-old bull?
Also, if you sell US stocks, where do you put the money? The commodity & world markets have been returning well above-average since 2003 (is that bull aging?) Bonds & money market are getting neutered by inflation. That leaves european bonds, which isn’t a terrible hedge (anyone have a good euro bond fund?)
