As markets continue to rise, stocks are making up more total financial assets.
In fact, it set an all-time record in April according to local financial advisor Howie Pentony.
“As the markets have moved higher, the public continues to buy, which is kind of unusual,” Pentony said. “And if you’re a long-time investor, some people take a contrarian view of that, in other words, if the public is buying maybe we need to step back and take a look.”
Pentony also says that as the summer time approaches, markets have tended to cool.
“Typically, the months up through April are pretty good, and then summer time comes. This is a period of seasonal weakness, so it would be very unusual if the markets continue blasting upwards like they are right now,” Pentony said.
Pentony estimated that 41 percent of financial assets were made up of stocks.
