When Will the Bubble Burst?

For several years the stock market has made major gains, adding up to what has probably been the greatest bull market in all of history. Setbacks that appeared threatening, such as those that occurred in April of 1997 and August/September of 1998, have proved temporary and have served merely as renewed buying opportunities. With each renewal of the upward trend, the conviction has grown that if one buys a diversified list of good stocks (and even many that are not so good), one simply cannot lose in the stock market, except temporarily.