Not surprisingly, the media has been quick to jump on the story suggesting that if 2019 was strong, just wait until 2020. To wit:
"BTIG's Julian Emanuel believes 2020 will be a milestone year. With the major indexes kicking off Christmas week at fresh all-time highs, he's not ruling out a 22% surge in the S&P 500.
The reason: Most investors don't trust the record rally."
I am not sure such is the case judging by both our "Smart/Dumb Money" and "Investor Positioning Fear/Greed" indices.
One of the primary tenants of investing, other than "buy low and sell high," is always analyzing BOTH sides of every argument to avoid confirmation bias. Therefore, while articles like the one above make the case for being invested in the market due to a rather nebulous assumption, the other question is what could go wrong?