There would never be a time in history where goldman sachs tells their high networth clients to sell.....it's so fu©king obvious that they would never say anything of that matter.. ...for goldman sachs it's a constant bull market no matter what...those big banks would never ever say stocks are in a bubble....they didn't say it during the last dozen bubbles so why would they ever say it.....that's not even a word in their dictionary... Goldman Sachs’ private wealth management advisors are telling its wealthiest clients that stocks are not in a bubble and that the bull market likely continues. “We recommend that clients stay invested in equities notwithstanding currently high valuations and the constant cascade of warnings that we are in an equity bubble. We also recommend clients maintain a strategic overweight to US assets for the long run, and enhance the returns of their portfolio by taking advantage of tactical opportunities in stocks, bonds, and currencies,” Sharmin Mossavar-Rahmani and Brett Nelson wrote in their 2018 annual outlook, a 108-page report entitled “(Un)Steady as She Goes.” Goldman’s private wealth management clients generally have investable assets ofat least $10 million. While the market has been on a tear, that’ s not to say that there aren’t risks that could derail its current upward trajectory. “This recommendation comes with a note of caution,” the analysts said. “We have to remain vigilant, brace ourselves for continued cyberattacks and terrorism, and acknowledge that growing geopolitical tensions could result in an ugly and costly war.” The bull market, which began in 2009, has some investors and experts concerned about the high valuations. “At nearly nine years, this bull market is already quite old by historical standards, now less than one year shy of the nearly decade-long advance that culminated with the technology bubble in 2000,” Goldman wrote. “Forever, last year’s gains pushed valuations deeper into the 10th decile, indicating the S&P 500 has been cheaper at least 90% of the time historically. Such elevated valuation in the past have weighed on equity returns over the subsequent five years and lowered the odds of positive outcomes.” Goldman notes that selling stocks based on expensive valuations has historically been a losing strategy. “Yet we should not confuse an expensive market with one that is certain to generate a loss, especially over shorter holding periods,” Goldman wrote. There’s an 87% probability of positive returns in 2018, with a 63% probability those returns exceed 10% and a 31% probability they exceed 20%, the report noted.
No reason for any downside going forward for a while now. Any dips should be treated as gifts from above. Have fun