CINXE.COM

<!DOCTYPE html> <html> <head><script type="text/javascript" src="https://web-static.archive.org/_static/js/bundle-playback.js?v=7YQSqjSh" charset="utf-8"></script> <script type="text/javascript" src="https://web-static.archive.org/_static/js/wombat.js?v=txqj7nKC" charset="utf-8"></script> <script>window.RufflePlayer=window.RufflePlayer||{};window.RufflePlayer.config={"autoplay":"on","unmuteOverlay":"hidden"};</script> <script type="text/javascript" src="https://web-static.archive.org/_static/js/ruffle/ruffle.js"></script> <script type="text/javascript"> __wm.init("https://web.archive.org/web"); __wm.wombat("http://www.dallasnews.com/business/columnists/will-deener/20150927-deener-the-bull-market-runs-long-but-gets-no-love.ece","20151012095050","https://web.archive.org/","web","https://web-static.archive.org/_static/", "1444643450"); </script> <link rel="stylesheet" type="text/css" href="https://web-static.archive.org/_static/css/banner-styles.css?v=p7PEIJWi" /> <link rel="stylesheet" type="text/css" href="https://web-static.archive.org/_static/css/iconochive.css?v=3PDvdIFv" />    <meta content="dallas, dallas fort worth, dallas news, dallas fort worth news, dfw news, dallas local news, dallas fort worth local news, dallas newspaper, dallas morning news, dallas morning news newspaper" name="keywords"/> <meta content="From its beginnings in March 2009 through much of the past six years, the bull market has been largely unloved." name="description"/> <title> Deener: The bull market runs long but gets no love | Dallas Morning News </title> <meta http-equiv="Content-Type" content="text/html; charset=UTF-8"/> <meta property="fb:app_id" content="258290334265148"/> <meta property="fb:page_id" content="20946638799"/> <meta property="fb:admins" content="1043783589"/> <meta property="og:url" content="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150927-deener-the-bull-market-runs-long-but-gets-no-love.ece"/> <meta property="og:title" content="Deener: The bull market runs long but gets no love"/> <meta property="og:description" content="From its beginnings in March 2009 through much of the past six years, the bull market has been largely unloved."/> <meta property="og:keywords" content="dallas, dallas fort worth, dallas news, dallas fort worth news, dfw news, dallas local news, dallas fort worth local news, dallas newspaper, dallas morning news, dallas morning news newspaper"/> <meta property="og:image" content="https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/business/columnists/will-deener/20150927-wall_street_38615712.ece/BINARY/original/WALL_STREET_38615712"/> <meta property="og:image:height" content="921"/> <meta property="og:image:width" content="1280"/> <meta property="og:type" content="article"/> <meta name="twitter:card" content="summary"/> <meta name="twitter:site" content="@dallasnews"/> <meta name="twitter:creator" content="@dallasnews"/> <meta name="news_keywords" content="dallas, dallas fort worth, dallas news, dallas fort worth news, dfw news, dallas local news, dallas fort worth local news, dallas newspaper, dallas morning news, dallas morning news newspaper"/> <meta name="parsely-page" content="{"title": "Deener: The bull market runs long but gets no love", "link": "http://www.dallasnews.com/business/columnists/will-deener/20150927-deener-the-bull-market-runs-long-but-gets-no-love.ece", "image_url": "http://www.dallasnews.com/business/columnists/will-deener/20150927-wall_street_38615712.ece/BINARY/original/WALL_STREET_38615712", "type": "post", "post_id": "2454198", "pub_date": "2015-09-28T01:24:24Z", "section": "Will Deener", "author": "Will Deener", "tags": ["dallas", "dallas fort worth", "dallas news", "dallas fort worth news", "dfw news", "dallas local news", "dallas fort worth local news", "dallas newspaper", "dallas morning news", "dallas morning news newspaper"]}"/> <meta name="LastModifiedDate" content="2015-09-28T02:57:45Z"/> <meta name="PublishDate" content="2015-09-28T01:24:24Z"/> <meta name="cXenseParse:recs:publishtime" content="2015-09-28T01:24:24Z"/> <meta name="cXenseParse:recs:image" content="http://www.dallasnews.com/business/columnists/will-deener/20150927-wall_street_38615712.ece/ALTERNATES/w660/WALL_STREET_38615712"/> <link rel="canonical" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150927-deener-the-bull-runs-long-but-gets-no-love.ece"/> <link rel="shortcut icon" type="image/x-icon" href="https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/favicon-premium.ico"/>  <link rel="stylesheet" type="text/css" href="https://web.archive.org/web/20151012095050cs_/http://cdn0.dallasnews.com/basic/css/common.css"/> <link rel="pingback" href="/xmlrpc"/>   <script type="text/javascript" src="//web.archive.org/web/20151012095050js_/http://ajax.googleapis.com/ajax/libs/jquery/1.11.1/jquery.min.js"></script>  <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/userCustomRedirs.js"></script> <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/fullcalendar.min.js"></script> <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/widget-framework-util.js"></script> <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/flowplayer-3.1.4.min.js"></script> <script type="text/javascript">var selectedSubNav = -1;</script> <script type="text/javascript" src="https://web.archive.org/web/20151012095050js_/http://cdn.gigya.com/js/socialize.js?apiKey=3_9lzrxJh-GQofXtoOq-ADFDpwOla0DXKJOvVl_KnlZPjeuRyBKYHjyaA2UYgGvXGv"> {connectWithoutLoginBehavior: 'alwaysLogin', facebookExtraPermissions: 'email', enabledProviders: 'facebook,twitter,googleplus,linkedin,google,yahoo'} // Modify default configuration for Gigya </script> <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/json2.js"></script> <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/slideshowImage.js"></script> <script type="text/javascript" src="https://web.archive.org/web/20151012095050js_/http://www.dallasnews.com/resrsc/js/dfpkrux.js"></script> <script type="text/javascript" src="https://web.archive.org/web/20151012095050js_/http://www.googletagservices.com/tag/js/gpt.js"></script> <script type="text/javascript">DFP_networkId = "11222444";</script> <script type="text/javascript"> var DFP_sitepage = "DMN/business/columnists/will-deener"; var DFPSlotSizes; DFPSlotSizes = [130,1000] var adSlot0 = googletag.defineSlot('/' + DFP_networkId + '/' + DFP_sitepage, DFPSlotSizes, "Leftoop"); adSlot0.addService(googletag.pubads()); DFPSlotSizes = [[728,90],[970,90]] var adSlot1 = googletag.defineSlot('/' + DFP_networkId + '/' + DFP_sitepage, DFPSlotSizes, "dfpTop"); adSlot1.setTargeting("position", "Top"); adSlot1.setTargeting("pagetype", "article"); adSlot1.addService(googletag.pubads()); DFPSlotSizes = [[300,250],[300,600],[300,1050]] var adSlot2 = googletag.defineSlot('/' + DFP_networkId + '/' + DFP_sitepage, DFPSlotSizes, "dfpPosition1"); adSlot2.setTargeting("position", "Position1"); adSlot2.setTargeting("pagetype", "article"); adSlot2.addService(googletag.pubads()); DFPSlotSizes = [[300,250],[1,1],[300,600]] var adSlot3 = googletag.defineSlot('/' + DFP_networkId + '/' + DFP_sitepage, DFPSlotSizes, "dfpPosition2"); adSlot3.setTargeting("position", "Position2"); adSlot3.setTargeting("pagetype", "article"); adSlot3.addService(googletag.pubads()); DFPSlotSizes = [[300,250],[1,1]] var adSlot4 = googletag.defineSlot('/' + DFP_networkId + '/' + DFP_sitepage, DFPSlotSizes, "dfpPosition3"); adSlot4.setTargeting("position", "Position3"); adSlot4.setTargeting("pagetype", "article"); adSlot4.addService(googletag.pubads()); DFPSlotSizes = [[970,30],[970,250],[970,90]] var adSlot5 = googletag.defineSlot('/' + DFP_networkId + '/' + DFP_sitepage, DFPSlotSizes, "dfpTop1"); adSlot5.setTargeting("position", "Top1"); adSlot5.setTargeting("pagetype", "article"); adSlot5.addService(googletag.pubads()); DFPSlotSizes = [300,150] var adSlot7 = googletag.defineSlot('/' + DFP_networkId + '/' + DFP_sitepage, DFPSlotSizes, "dfpTopLeft"); adSlot7.setTargeting("position", "TopLeft"); adSlot7.setTargeting("pagetype", "article"); adSlot7.addService(googletag.pubads()); DFPSlotSizes = [300,250] var adSlot8 = googletag.defineSlot('/' + DFP_networkId + '/' + DFP_sitepage, DFPSlotSizes, "dfpPosition4"); adSlot8.setTargeting("position", "Position4"); adSlot8.setTargeting("pagetype", "article"); adSlot8.addService(googletag.pubads()); </script> <script type="text/javascript" src="https://web.archive.org/web/20151012095050js_/http://www.dallasnews.com/resrsc/js/dfpinit.js"></script>   <script type="text/javascript"> var _sf_async_config = _sf_async_config || {}; var _sf_startpt = (new Date()).getTime(); _sf_async_config.uid = 38837; _sf_async_config.domain = 'dallasnews.com'; _sf_async_config.useCanonical = true; </script>  <script type="text/javascript"> var _vrq = _vrq || []; _vrq.push(['id', 106]); _vrq.push(['automate', false]); _vrq.push(['track', function(){}]); (function(d, a) { var s = d.createElement(a), x = d.getElementsByTagName(a)[0]; s.async = true; s.src = 'https://web.archive.org/web/20151012095050/http://a.visualrevenue.com/vrs.js'; x.parentNode.insertBefore(s, x); })(document, 'script'); </script>   <script type="text/javascript" src="https://web.archive.org/web/20151012095050js_/http://c.jsrdn.com/s/cs.js?p=22305"> </script> <script src="https://web.archive.org/web/20151012095050js_/http://adg.bzgint.com/pub/adg/data.js" async></script> </head> <body class="context-art"> <div id="viewport" class="viewport"> <div id="fb-root"></div> <script type="text/javascript"> (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//web.archive.org/web/20151012095050/http://connect.facebook.net/en_US/all.js#xfbml=1&appId=258290334265148"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk')); </script> <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/fb-tracking.js"></script> <div id="outer" class="x620x300-extended-config"> <script type="text/javascript">var jqLoad = [],gigLoad = []; </script> <style type="text/css"> #mobileViewTop {text-align:center;} #mobileViewTop a {color:#ffffff;font-weight:bold;font-size:2em;padding:50px 10px;display:block;} #shareBarOutterWrapper, .gig-share-bar-container, .DMNWeatherModule, .weeklyForecastMini, .Hour12ForecastHome, .DMNWeatherContainer, .DMNWeatherMap a { position:relative; } .DMNWeatherMapContainer, .DMNWeatherMap, .DMNWeatherMap a { height: 90px; position:relative; display: block; } </style> <div id="mobileViewTop" style="display:none;margin-top:10px;width:940px;background-color:#040c44;background-repeat:repeat-x;">  <a href="/web/20151012095050/http://www.dallasnews.com/" onclick="belo.cgm.util.setDeviceCookie('DMN-PD','premium',null);return false;">View dallasnews.com's mobile site</a> </div> <script type="text/javascript"> function getDevice() { var view = "full"; var mobile = (/iphone|ipad|ipod|android|blackberry|mini|windows\sce|windows phone|palm/i.test(navigator.userAgent.toLowerCase())); if (mobile) { view = "mobile"; var userAgent = navigator.userAgent.toLowerCase(); if ((userAgent.search("android") > -1) && !(userAgent.search("mobile") > -1)) { view = "tablet"; } else if (userAgent.search("ipad") > -1) { view = "tablet"; } } return(view); } function mobileSetDevice(c_name,value,exdays) { mobileDelCookie(c_name); var c_value; var exdate=new Date(); exdate.setDate(exdate.getDate() + exdays); c_value=escape(value) + ((exdays==null) ? "" : "; expires="+exdate.toUTCString()) + "; path=/;domain=dallasnews.com"; document.cookie=c_name + "=" + c_value; //c_value=escape(value) + ((exdays==null) ? "" : "; expires="+exdate.toUTCString()) + "; path=/"; //document.cookie=c_name + "=" + c_value; //document.location.href=document.location.pathname + document.location.search; window.location.reload(); } function mobileDelCookie(name) { document.cookie = name +'=; expires=Thu, 01-Jan-70 00:00:01 GMT;path=/;domain=www.dallasnews.com'; document.cookie = name +'=; expires=Thu, 01-Jan-70 00:00:01 GMT;path=/;domain=dallasnews.com'; } jqLoad.push(function(){ if (getDevice() == 'mobile') $("#mobileViewTop").css("display","block"); }); </script> <div class="positiondfpTop adPosition" id="dfpTop"> <script type="text/javascript">googletag.display('dfpTop');</script> </div> </div> <div id="page" class="x620x300-extended-config container"> <div id="header">   <script type="text/javascript"> (function() {var s=document.createElement('script'); s.type='text/javascript'; s.async=true; s.src='//web.archive.org/web/20151012095050/http://www.liqwid.net/?key=031A-9BE8-85CE-D8C0';var x=document.getElementsByTagName('script')[0];x.parentNode.insertBefore(s,x);})(); </script>  <script type="text/javascript"> if (typeof jqLoad == "undefined"){var jqLoad = [],gigLoad = [];} </script> <header class="main-header"> <a id="dnLogoHome" class="nav-logo sts" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/"><img class="img-responsive-vertical" src="https://web.archive.org/web/20151012095050im_/http://cdn0.dallasnews.com/basic/img/logos/dmn.svg"><span class="sr-only">Dallas Morning News Home</span></a> <div class="simple-separator pvn ptn pbs pts"> <div class="pull-right small"> <a href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/select-device.html" id="loginNavPr" class="signIn pull-left sbn tf3f1">ePaper</a> <a href="https://web.archive.org/web/20151012095050/http://join.dallasnews.com/subscribe" id="loginNavSb" class="signIn pull-left sbn sld tf3f1">Subscribe</a> <a href="https://web.archive.org/web/20151012095050/https://reg.dallasnews.com/atypon/signout.do" id="nav-bar-sign-out" class="signIn pull-left sbn sld hide tf3f1">Sign Out</a> <a href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/signin.html" id="nav-bar-sign-in" class="signIn pull-left sbn sld tf3f1">Sign In</a> </div> <div class="pull-left small"> <div id="weather-bar" class="small"> <div id="weather-icons" class="pull-left tf1f2"> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/weather" id="mainNav-wu-forecast"><button id="nav-weather-peek" data-display-group="nav-widgets" class="nav-weather nav-weather-button pull-left srd"></button> <span id="header-date" class="nav-date tf3f1"></span></a> </div> </div> </div> </div> <nav id="main-nav" class="main-nav active"> <ul class="top-nav"> <li class="nav-orphan"> <a id="mainNavHomeHom" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/">Home</a> </li> <li class=""> <a id="mainNavHomeNew" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/">News</a> <ul class="sub-nav hover text-left"> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/community-news/" id="mainNavNewsCom">Communities</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/crime/" id="mainNavNewsCri">Crime</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/education/" id="mainNavNewsEdu">Education</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/investigations/" id="mainNavNewsInv">Investigations</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/state/" id="mainNavNewsSta">State</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/nationworld/" id="mainNavNewsNat">Nation/World</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/politics/" id="mainNavNewsPol">Politics</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://video.dallasnews.com/" id="mainNavHomeVid">Videos</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/photos/" id="mainNavHomePho">Photos</a> </li> </ul> </li> <li class=" active"> <a id="mainNavHomeBus" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/">Business</a> <ul class="sub-nav hover text-left"> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://business-news.thestreet.com/dallas-morning-news" id="mainNavBusiWal">Wall Street</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/airline-industry/" id="mainNavBusiAir">Airlines</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/technology/" id="mainNavBusiTec">Technology</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/personal-finance/" id="mainNavBusiEco">Economy & You</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/top100" id="mainNavBusiTop">Top 100</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/commercial-real-estate/" id="mainNavBusiRea">Real Estate</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/autos/" id="mainNavBusiAut">Autos</a> </li> </ul> </li> <li class=""> <a id="mainNavHomeSpt" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sports/">Sports</a> <ul class="sub-nav hover text-left"> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sports/dallas-cowboys/" id="mainNavSporCow">Cowboys</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sports/dallas-mavericks/" id="mainNavSporMav">Mavericks</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sports/dallas-stars/" id="mainNavSporSta">Stars</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sports/texas-rangers/" id="mainNavSporRan">Rangers</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sports/college-sports/" id="mainNavSporCol">Colleges</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sports/high-schools/" id="mainNavSporHig">High Schools</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sports/more-sports/" id="mainNavSporMor">More</a> </li> </ul> </li> <li class=""> <a id="mainNavHomeEnt" href="https://web.archive.org/web/20151012095050/http://www.guidelive.com/">Entertainment</a> <ul class="sub-nav hover text-center"> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.guidelive.com/food-and-drink" id="mainNavEnteDin">Food and Drink</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.guidelive.com/movies/" id="mainNavEnteMov">Movies</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.guidelive.com/music/" id="mainNavEnteMus">Music</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.guidelive.com/things-to-do/" id="mainNavEnteThi">Things To Do</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.guidelive.com/restaurants/" id="mainNavEnteRest">Find Restaurants</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://guidelive.com/concerts/" id="mainNavEnteCon">Find Concerts</a> </li> </ul> </li> <li class=""> <a id="mainNavHomeLif" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/lifestyles/">Arts & Life</a> <ul class="sub-nav hover text-center"> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/lifestyles/arts/" id="mainNavEnteArt">Arts</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/lifestyles/books/" id="mainNavLifeBoo">Books</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/lifestyles/food-wine/" id="mainNavLifeFoo">Food & Wine</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/lifestyles/home-and-gardening/" id="mainNavLifeGar">Home & Garden</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.fdluxe.com/" id="mainNavLifeSty" target="_blank">Style</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.legacy.com/celebration/dallasmorningnews/" id="mainNavLifeWed">Weddings</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/lifestyles/travel/" id="mainNavLifeTra">Travel</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/lifestyles/health-and-fitness/" id="mainNavLifeHea">Health</a> </li> </ul> </li> <li class=""> <a id="mainNavHomeOpi" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/opinion/">Opinion</a> <ul class="sub-nav hover text-right"> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/opinion/editorials/" id="mainNavOpinEdi">Editorials</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://dallasmorningviewsblog.dallasnews.com/" id="mainNavOpinBlo">Blog</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/opinion/latest-columns/" id="mainNavOpinCol">Columns</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/opinion/sunday-commentary/" id="mainNavOpinSun">Sunday Points</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://letterstotheeditorblog.dallasnews.com/" id="mainNavOpinLet">Letters</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/opinion/north-south-dallas-project/" id="mainNavOpinDal">Dallas' North-South Gap</a> </li> </ul> </li> <li class=""> <a id="marketplaceNavOb" href="https://web.archive.org/web/20151012095050/http://obits.dallasnews.com/obituaries/dallasmorningnews/">Obits</a> <ul class="sub-nav hover text-center"> <li class="sub-nav-offset-7"> <a href="https://web.archive.org/web/20151012095050/http://secure.adpay.com/searchresults.aspx?p=1013&city=1013&catid=Burial%20Plots" id="marketplaceNavBp">Burial Plots</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.legacy.com/obituaries/dallasmorningnews/obituary-browse.aspx?recentdate=0&type=9" id="marketplaceNavIm">In Memoriams</a> </li> </ul> </li> <li class=""> <a id="mainNavClasHom" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/classifieds/">Marketplace</a> <ul class="sub-nav hover text-right"> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/autos/" id="marketplaceNavAu">Autos</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/jobs/" id="marketplaceNavJb">Jobs</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/real-estate/" id="marketplaceNavRe">Real Estate</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://findnsave.dallasnews.com/" id="marketplaceNavSh">Shopping</a> </li> <li class=""> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/classifieds/" id="marketplaceNavCl">Classifieds</a> </li> </ul> </li> <li class="nav-orphan"> <a id="mainNavHomeSto" href="https://web.archive.org/web/20151012095050/http://store.dallasnews.com/" target="_blank">DMNstore</a> </li> </ul> </nav> <div id="util-bar" class="util-bar small"> <div class="pull-right"> <form class="form subnav-search" role="form" action="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/site-search/"> <input id="nav-search-input" class="form-control input-sm nav-search-input" type="search" placeholder="Search" name="q"> <button type="submit" id="mainNavHomeSea" class="search-submit fico icon-search mainNavHomeSea"><span class="sr-only">Submit</span></button> </form> </div> <div class="pull-left"> <div class="header-social-links"> <a id="nav-social-twitter" class="fico icon-twitter r7 srs" href="https://web.archive.org/web/20151012095050/https://twitter.com/dallasnews"><span class="sr-only">Twitter</span></a> <a id="nav-social-instagram" class="fico icon-instagram r7 srs" href="https://web.archive.org/web/20151012095050/https://instagram.com/dallasnews"><span class="sr-only">Instagram</span></a> <a id="nav-social-facebook" class="fico icon-facebook r7 srs" href="https://web.archive.org/web/20151012095050/https://www.facebook.com/dallasmorningnews"><span class="sr-only">Facebook</span></a> <a id="nav-social-youtube" class="fico icon-youtube r7 srs" href="https://web.archive.org/web/20151012095050/https://www.youtube.com/user/tdmnvid"><span class="sr-only">YouTube</span></a> </div> </div> </div> </header> <div class="positiondfpTop1 adPosition" id="dfpTop1"> <script type="text/javascript">googletag.display('dfpTop1');</script> </div> </div> <div id="content" class="content row">  <div id="main" class="col-sm-8">  <div class="widget navigation breadcrumb article-breadcrumbs"> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/"> Business </a> <span class="fico icon-arrow-right"></span> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/"> Columnists </a> <span class="fico icon-arrow-right"></span> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/"> Will Deener </a> </div> <h1 class="section-label section-article-label"> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/">Will Deener</a> </h1> <div class="container story-content"> <span class="published" style="display:none;" title="2015-09-27T20:24:24-0500">September 27, 2015 08:24 PM CDT</span> <span class="updated" style="display:none;" title="2015-09-27T21:57:45-0500">September 27, 2015 09:57 PM CDT</span> <span class="entry-title" style="display:none;">Deener: The bull market runs long but gets no love</span> <div class="widget code html widget-editable viziwyg-section-4 inpage-widget-125411"> <style media="print" type="text/css"> body { margin:0; padding:0; color: #000; } .positionTop, .topBrandNav, .secWhiteNav, .dnSubLogo, .weather-masthead, .newSubSecNav, .positionTop1, #shareBarOtterWrapper, .positionBottom1, #right, .footer2012, .DMNReferWrapper { display: none !important; } .dnLogoHome { text-align: center !important; padding: 5px !important; } #main { width: 100% !important; } div.storyContent div.body p { font-size: 1em !important; } /*Reset Style body {margin:0; padding:0; color: #000;} /* Remove unwanted elements */ div#header .column-2, #nav, .navigation, .positionLeaderTop, .positionWallpaper, .positionBillboard, #message, #right, #footer, .positionTxt1, #slcgm_comments_block, .DMNSocialTools, .DMNReferWrapper, .slcgm_metadata, .ReportAbuse_Container, #indexCredit, .byline img, #ssImageFooterSingle, div.x620x300-sb-extended-config div#header div.x380x300x220 div.column-2, div.x620x300-sb-extended-config div#header div.x380x300x220 div.column-3, #navbar, .caption-wrapper, div.bestDFWMenuWrapper, #ssStorySingle,#ssImageSingle, #ssStory, #find_recipe_content, .simpleSearch, #bcVideo, #outbraincontainer, .groupHeadline, .topPicks, .ArticleSocialTools, div#SBHdrWrapper #SBHdrSuperLogo, div#SBHdrWrapper #SBHdrDigitLogo { display: none !important; } /* Ensure the content spans the full width */ #main { width: 100% !important; margin: 0; float: none; } div.storyContent.article { font-family: Arial,Helvetica,sans-serif; margin-top: 0px !important; } #DMNHdrLogo { display: list-item; list-style-image: url("https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/skins/dmn/gfx/dnlogo.png"); height:53px; width:333px; list-style-position: inside; margin:0; padding:0; } #DMNHdrLogo-sd { display: list-item; list-style-image: url("https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/skins/dmn/gfx/sd_logoBlack.png"); height: 40px; width:317px; list-style-position: inside; margin:0; padding:0px; } #DMNHdrLogo-hsgt { display: list-item; list-style-image: url("https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/skins/dmn/gfx/hsgt_logoBlack.png"); height:62px; width:333px; list-style-position: inside; margin:0; padding:0px; } #DMNHdrScriptLogo { display: list-item; list-style-image: url("https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/skins/dmn/gfx/dnscriptlogo.png"); list-style-position: inside; margin:0; padding:0; } div#SBHdrWrapper #SBHdrLogo { display: list-item; list-style-image: url("https://web.archive.org/web/20151012095050im_/http://dev.dallasnews.com/skins/dmn/gfx/sblogo-for-print.png"); list-style-position: inside; margin:0; padding:0; height:82px !important; width:341px !important; }*/ </style> </div> <h1 class="viziwyg-editable viziwyg-field-2454198-TITLE viziwyg-section-7893 story-headline">Deener: The bull market runs long but gets no love </h1> <script type="text/javascript"> var gigya_catID = (typeof gigya_catID != 'undefined') ? gigya_catID : 'News'; var gigya_streamID = (typeof gigya_streamID != 'undefined') ? gigya_streamID : 'ece-http://www.dallasnews.com/-2454198'; var gigya_streamTitle = (typeof gigya_streamTitle != 'undefined') ? gigya_streamTitle : 'Deener: The bull market runs long but gets no love'; var gigya_linkback = (typeof gigya_linkback != 'undefined') ? gigya_linkback : 'https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150927-deener-the-bull-market-runs-long-but-gets-no-love.ece'; var gigya_via = (typeof gigya_via != 'undefined') ? gigya_via : 'dallasnews'; var gigya_tw_via = (typeof gigya_tw_via != 'undefined') ? gigya_tw_via : 'DMNbiz'; var gigya_media = (typeof gigya_media != 'undefined') ? gigya_media : 'https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150927-wall_street_38615712.ece/BINARY/original/WALL_STREET_38615712'; var gigya_leadtext = (typeof gigya_leadtext != 'undefined') ? gigya_leadtext : 'From its beginnings in March 2009 through much of the past six years, the bull market has been largely unloved.'; </script> <div id="shareBarOuterWrapper"> <div id="share-bar-content-top" class="share-bar-content"></div> </div> <script type="text/javascript"> ss_2454198_pictures = {"items":{ "0":{"id":"2454197","src":"https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150927-wall_street_38615712.ece/BINARY/w940/WALL_STREET_38615712","caption":" ","credit":"Mark Lennihan/AP"} },"length":"1"} </script> <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/slideshow.js"></script> <a name="ssStory2454198"></a> <div id="ssStory2454198" class="ssGallery ssStorySingle"> <div id="ssStory"> <div id="ssStoryImage"> <div class="ssBodyContentImageTd w940"> <img id="ssBodyImg" alt="" src="https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/business/columnists/will-deener/20150927-wall_street_38615712.ece/BINARY/w940/WALL_STREET_38615712"/> </div> <div class="ssControlOverlay"> <div id="ssBodyTopPrev" class="ssControlBox controlLeft"> <a href="#" class="fico icon-arrow-left ssHide" onclick="switchImage(2454198,);return false;"></a> </div> <div id="ssBodyTopNext" class="ssControlBox controlRight"> <a href="#" class="fico icon-arrow-right ssHide" onclick="switchImage(2454198,);return false;"></a> </div> </div> </div> <div class="ssItemNumber"> <span id="ssBodyBCPrev"> <a href="#" class="fico icon-arrow-left ssHide" onclick="switchImage(2454198,);return false;"></a> </span> <span id="ssBodyTopCounts" class="tf1f2">1/1</span> <span id="ssBodyBCNext"> <a href="#" class="fico icon-arrow-right ssHide" onclick="switchImage(2454198,);return false;"></a> </span> </div> <div class="ssFeaturedDescription ssSmallDesc"> <p id="ssStoryContentCredit" class="ssContentCredit"> Mark Lennihan/AP </p> <p id="ssStoryContentCaption" class="ssContentCaption"> </p> </div> </div> </div> <div class="byline sts"> <div class=" media"> <img src="https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/incoming/article91379.ece/ALTERNATES/h75/wdeener.jpg" width="60" height="75" class="pull-left"/> <div class="media-body">  <h6 class="svn"><a rel="author" class="tf3f1 h7">Will Deener</a>  <a class="fico icon-envelope" href="https://web.archive.org/web/20151012095050/mailto:wwrdeener@aol.com"><span class="sr-only">wwrdeener@aol.com</span></a> </h6> <p class="stn"></p> </div> </div> <div class="meta story-dateline sts"> <div class="time story-published">Published: <time itemprop="published" datetime="2015-09-27T20:24:24-05:00"> 27 September 2015 08:24 PM</time></div> <div class="time story-published">Updated: <time itemprop="modified" datetime="2015-09-27T21:57:45-05:00">27 September 2015 09:57 PM</time></div> </div> </div> <aside class="DMNReferWrapper pull-right panel-flat-medium content-aside"> <div class="label-related">Related</div>     <ul class="story-related"> <li class="first"> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150920-deener-looking-for-excuses-for-the-markets-august-swoon.ece"> Deener: Looking for excuses for the market’s August swoon </a> </li> <li> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150906-deener-why-you-shouldnt-worry-about-the-death-cross.ece"> Deener: Why you shouldn’t worry about the death cross </a> </li> <li> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150830-does-anyone-know-whats-behind-market-turmoil.ece"> Does anyone know what’s behind market turmoil? </a> </li> </ul> </aside>  <div class="story-body "> <div class="body viziwyg-editable viziwyg-field-2454198-BODY viziwyg-section-7893"> <div class="entry-content"> <p>The stock market buckled in late August with its biggest downdraft in four years, but small investors gave up on stocks months ago.</p><p>When the obituary is written for this bull, it should contain these words: <em>Here lies one of the most unloved bull markets in history. </em>From the bull market’s beginnings in March 2009 through much of the past six years, investor exuberance — to borrow a phrase from former Federal Reserve chief Alan Greenspan — has been anything but irrational.</p><p>This despite the fact that the Standard & Poor’s 500 index, a proxy for the stock market, gained almost 200 percent since 2009. Heck, the boring bond market has received much better press with only a fraction of the gains.</p><p>The lack of love for stocks is understandable given the horrible scorching that investors endured during the 2007-09 bear market when the S&P 500 dropped 51 percent. And many investors still remember the market’s 45 percent drop during the dot-com debacle of 2000-02 when investor exuberance <em>was</em> irrational.</p><p>The first of those two bears was ushered in by the collapse of a bubble in Internet stocks, while the catalyst for the second was the collapse of housing prices. During the 2007 bear, I remember shell-shocked investors remarked to me that they didn’t think it possible for stocks to drop so much.</p><p>The good news now is that while stocks may be a little pricey, virtually no one believes we are in the midst of any kind of bubble. Today investor pessimism, rather than exuberance, borders on the irrational.</p><p>“Throughout this entire bull market it has been most amazing to me how quickly rampant pessimism kicks in even with a small percentage-point drop,” said Liz Ann Sonders, chief investment strategist at Charles Schwab & Co. “It’s like investors are paranoid about making sure they don’t get left holding the bag.”</p><p>One of the best ways to gauge the mindset of small investors is through mutual fund flows. Consider this: Last year, the S&P 500 returned a robust 13.7 percent, and yet investors withdrew a net $60 billion from their domestic mutual funds, according to the Investment Company Institute, an industry trade group.</p><p>From April through December 2014, mutual fund flows were negative in all but one month (October). And that was just a warm up for the onslaught of withdrawals that has come this year.</p><p>Mutual fund flows have been negative every month starting in March, and with three months remaining in the year, investors have withdrawn a jaw-dropping $106.6 billion. All this occurred with the S&P 500 down only 6.2 percent so far this year.</p><p>The market was even up slightly during the first half of the year, but investors were spooked by the economic slowdown in China, anemic corporate profits and uncertainty about when the Federal Reserve would raise short-term interest rates.</p><p>They chose to ignore the better-than-expected 3.9 percent growth in the U.S. economy in the second quarter and the jobs market that is on fire.</p><p>“I travel to different cities every week, and I cannot remember the last time I got a question that had a positive undertone to it about the market,” said Sonders, who was in Dallas recently to speak. “Investors don’t ask me what sectors do I like. They want to know what is the next shoe to drop.”</p><p>Another sign of rampant investor pessimism comes from the much-watched American Association of Individual Investors Sentiment Survey. This is a weekly measure of the percentage of investors who are bullish, bearish and neutral on the stock market for the next six months.</p><p>The historical average for bullish sentiment is 39 percent. Well, this survey has stayed below that level for 29 consecutive weeks, which has occurred only twice — during the 1987 crash and during the financial crisis. Last week, bullish sentiment dropped to 32.1 percent.</p><p>To be fair, even professional traders are starting to get the willies. The number of short positions — a bet that stocks decline — on the Chicago Mercantile Exchange has soared recently, according to a recent Gluskin Sheff research report. Since late August, the number of short futures and options contracts has increased from 2,716 to 34,858.</p><p>“We have not seen such negative positioning in four years. … This market is really loaded for bear,” the report said.</p><p>Perhaps investors are right to jettison stocks. But I would point out that even market experts are conflicted over whether the late summer sell-off will eventually lapse into an official bear market — defined as a 20 percent drop in major stock indices.</p><p>I’m a contrarian at heart so I take some comfort in this massive exodus from the stock market. That’s because small investors seem to always position themselves on the wrong side of dramatic market moves. They might have given up, but I haven’t — yet.</p> </div> </div> </div> <style> #blueLine { border-top: 3px solid #A3C0D7 !important; color: #313131 !important; font-family: Arial,Helvetica,sans-serif !important; font-size: 1em !important; font-weight: normal !important; margin-top: 20px !important; padding: 4px 0 10px !important; text-transform: uppercase !important; background-color:transparent !important; } #blueLine a { color: #000000 !important; font-family: arial, Helvetica, sans-serif; font-size: 16px; margin-bottom: 12px; padding-bottom: 8px; } </style> <div id="ctx-sl-subscribe" class="ctx-clearfix"></div> <div id="shareBarOuterWrapper"> <div id="share-bar-content-bottom" class="share-bar-content"></div> </div> <div class="widget code html widget-editable viziwyg-section-4 inpage-widget-2312014"> <div class="ArticleOutbrain"> <script type="text/JavaScript"> var dallasnews_oburlStr = location.pathname + ''; var dallasnews_obhostStr = 'http://' + location.hostname + ''; dallasnews_oburlStr = (dallasnews_oburlStr.indexOf('?') > -1) ? dallasnews_oburlStr.substr(0, dallasnews_oburlStr.indexOf('?')) : dallasnews_oburlStr; var OutbrainPermaLink = dallasnews_obhostStr + dallasnews_oburlStr; document.writeln('<div class="OUTBRAIN ArticleOutbrainThumb" data-src="'+OutbrainPermaLink+'" data-widget-id="AR_6" data-ob-template="dallasnews"></div>'); </script> <script type="text/javascript" async="async" src="https://web.archive.org/web/20151012095050js_/http://widgets.outbrain.com/outbrain.js"></script> </div> </div> <link rel="stylesheet" href="https://web.archive.org/web/20151012095050cs_/http://contextlysitescripts.contextly.com/kit/assets/3.latest/widgets--page-view.css" type="text/css" media="all"/> <div id="ctx-module" class="ctx-module-container ctx-clearfix"></div> <div class="tf1f3 r5 sbd text-capitalize simple-separator-top ArticleTopPicks"> editor picks </div> <div class="widget topPicks default ArticleTopPicks row"> <div style="margin-bottom:10px;" class="topPicksItem col-sm-3"> <div class="topPicksImage" style="padding-bottom:10px;"> <a href="https://web.archive.org/web/20151012095050/http://interactives.dallasnews.com/2015/memes/patriotsweeden/" alt="Fun"><img class="img-responsive" src="https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/incoming/20151011-1444613967-mememaker.jpg.ece/ALTERNATES/w620/1444613967-mememaker.jpg" alt="Fun"/></a> </div> <div class="topPicksTitleWrapper"> <p class="topPicksTitle"> Fun </p> <p class="topPicksLink tf1f2 h7"> <a href="https://web.archive.org/web/20151012095050/http://interactives.dallasnews.com/2015/memes/patriotsweeden/"> What is Tony Romo saying to Brandon Weeden in this picture? Create a meme! </a> </p> </div> </div> <div style="margin-bottom:10px;" class="topPicksItem col-sm-3"> <div class="topPicksImage" style="padding-bottom:10px;"> <a href="https://web.archive.org/web/20151012095050/http://www.guidelive.com/celebrities/2015/10/11/celebrity-spottings-st-vincent-resident-taqueria-dallas" alt="Celebrity spotting"><img class="img-responsive" src="https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/incoming/20151011-1444588957-screen-shot-2015-10-11-at-1.45.45-pm.png.ece/ALTERNATES/w620/1444588957-Screen-Shot-2015-10-11-at-1.45.45-PM.png" alt="Celebrity spotting"/></a> </div> <div class="topPicksTitleWrapper"> <p class="topPicksTitle"> Celebrity spotting </p> <p class="topPicksLink tf1f2 h7"> <a href="https://web.archive.org/web/20151012095050/http://www.guidelive.com/celebrities/2015/10/11/celebrity-spottings-st-vincent-resident-taqueria-dallas"> St. Vincent hung out at Resident Taqueria in Dallas this weekend </a> </p> </div> </div> <div style="margin-bottom:10px;" class="topPicksItem col-sm-3"> <div class="topPicksImage" style="padding-bottom:10px;"> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/community-news/plano/headlines/20151008-plano-high-alumni-mark-integration-districts-first-state-football-title.ece" alt="Dream season"><img class="img-responsive" src="https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/news/community-news/plano/headlines/20151007-footballstate-2.ece/ALTERNATES/w620/FOOTBALLSTATE+%282%29" alt="Dream season"/></a> </div> <div class="topPicksTitleWrapper"> <p class="topPicksTitle"> Dream season </p> <p class="topPicksLink tf1f2 h7"> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/community-news/plano/headlines/20151008-plano-high-alumni-mark-integration-districts-first-state-football-title.ece"> Former Plano High School students mark integration, district’s first state football title </a> </p> </div> </div> <div style="margin-bottom:10px;" class="topPicksItem col-sm-3"> <div class="topPicksImage" style="padding-bottom:10px;"> <a href="https://web.archive.org/web/20151012095050/http://www.guidelive.com/music/2015/10/10/interview-don-henley-cass-county" alt="Music"><img class="img-responsive" src="https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/incoming/20151009-1444404343-don_henley7.jpg.ece/ALTERNATES/w620/1444404343-Don_Henley7.jpg" alt="Music"/></a> </div> <div class="topPicksTitleWrapper"> <p class="topPicksTitle"> Music </p> <p class="topPicksLink tf1f2 h7"> <a href="https://web.archive.org/web/20151012095050/http://www.guidelive.com/music/2015/10/10/interview-don-henley-cass-county"> Don Henley proves you can go home again (and make the best solo record of your career) </a> </p> </div> </div> </div> <div id="commentsOuterWrapper"> <div class="cgmtitle">Comments</div> <p class="meta">To post a comment, log into your chosen social network and then add your comment below. Your comments are subject to our <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/terms/">Terms of Service</a> and the privacy policy and terms of service of your social network. If you do not want to comment with a social network, please consider writing a <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sendletters/">letter to the editor</a>.</p> <div id="commentsDiv"></div> </div> <script type="text/javascript"> var gigya_catID = 'News', gigya_streamID = 'ece-http://www.dallasnews.com/-2454198', gigya_streamTitle = 'Deener: The bull market runs long but gets no love', gigya_linkback = 'https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150927-deener-the-bull-market-runs-long-but-gets-no-love.ece', gigya_deviceType = 'desktop', gigya_width = '620', gigya_providers = 'facebook, twitter, google, linkedin, messenger, yahoo', gigya_media = 'https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150927-wall_street_38615712.ece/ALTERNATES/w100/WALL_STREET_38615712', gigya_leadtext = 'From its beginnings in March 2009 through much of the past six years, the bull market has been largely unloved.'; gigya_media = (gigya_media == '') ? 'https://web.archive.org/web/20151012095050/http://www.dallasnews.com/skins/dmn/gfx/fblogo.jpg' : 'https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150927-wall_street_38615712.ece/ALTERNATES/w100/WALL_STREET_38615712'; </script> <script type="text/javascript"> var act = new gigya.socialize.UserAction(); act.setTitle(gigya_streamTitle); act.setDescription(gigya_leadtext); act.setLinkBack(gigya_linkback); act.setUserMessage(''); //act.addActionLink("Follow Us", 'https://web.archive.org/web/20151012095050/http://www.facebook.com/dallasmorningnews'); act.addMediaItem({ type: 'image', src: gigya_media, href: gigya_linkback }); var templates = { loginCanvas_loggedIn: '<div class="gig-comments-photo-container gig-comments-commentBox-photo-container">'+ '$photoDiv' + '</div>' + '<span class="gig-comments-username gig-comments-commentBox-username">Hello! $username </span> ' + '<span style="padding-left: 5px; display: inline-block">$logoutLink</span>' + '<div class="gig-comments-headerText gig-comments-commentBox-headerText" style="">Post your comments in the box below</div>', loginCanvas_loggedOut: '<div class="gig-comments-photo-container gig-comments-commentBox-photo-container">'+ '$photoDiv' + '</div>' + ' <div class="gig-comments-headerText gig-comments-commentBox-headerText">Login to post a comment</div>' + '$loginDropdown ' } var params ={ categoryID: gigya_catID, // category created in the gigya admin streamID: gigya_streamID, // id of the article. ece or blog prefix containerID: 'commentsDiv', //div id to load the content into version:2, // Optional streamTitle: gigya_streamTitle, deviceType: gigya_deviceType, // desktop (default), mobile, or auto width: gigya_width, minShareOptions: 5, //The number of share providers to display as check-boxes in the "Share to" section of the comments UI. The default value is 2. templates: templates, userAction: act, replyUserAction: act, enabledProviders: gigya_providers, onCommentSubmitted:function() { FBtrackEvent(23,'StreamID:'+this.streamID,32,"Social:Comment:Add") }, //Activity feed Parameters scope:'internal', privacy: 'public' } gigya.socialize.showCommentsUI(params); </script> <a style="display:none;" rel="item-license" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/terms/">Copyright 2011 The Dallas Morning News. All rights reserve. This material may not be published, broadcast, rewritten or redistributed.</a> <img src="https://web.archive.org/web/20151012095050im_/http://analytics.apnewsregistry.com/analytics/v2/image.svc/dallasnews/RWS/dallasnews.com/CAI/2454198/E/prod/PC/Basic/AT/A" alt="" width="1" height="1" style="display:none;"/> </div> <script type="text/javascript"> $(window).load(function() { $("#ssStoryCountPrev").click(function(){ ssTrackEvent(40,document.title,21,"ArticleSlideShow:Click:Prev"); ssTrackEvent(40,document.title,24,"ArticleSlideShow:Click"); $("#ssStoryCountPrev").unbind("click"); }) $("#ssStoryCountNext").click(function(){ ssTrackEvent(40,document.title,22,"ArticleSlideShow:Click:Next"); ssTrackEvent(40,document.title,24,"ArticleSlideShow:Click"); $("#ssStoryCountNext").unbind("click"); }) }); function ssTrackEvent(strEvarId,strEvarValue,strEvent,strProductString) { var eVar = {}; eVar[strEvarId] = strEvarValue; var eventID = "event" + strEvent; var s_code; if (typeof om_trackProducts != 'undefined') { s_code = om_trackProducts("","",eventID,strProductString,"","","",eVar); } else { if (typeof trackProducts != 'undefined') { s_code = trackProducts("","",eventID,strProductString,"","","",eVar); } } } </script> <script type="text/javascript"> $(".ArticleOutbrainThumb").click(function() {DMNTrackClick("Article: Outbrain: Thumbnails");}); $(".ArticleOutbrainList").click(function() {DMNTrackClick("Article: Outbrain: List");}); $(".ArticleTopPicks").click(function() {DMNTrackClick("Article: Top Picks");}); $(".ArticleOutbrainLocalThumb").click(function() {DMNTrackClick("Article: Outbrain: Local News: Thumbnails");}); $(".ArticleOutbrainLocalList").click(function() {DMNTrackClick("Article: Outbrain: Local News: List");}); $(".ArticleTopPicksLocal").click(function() {DMNTrackClick("Article: Top Picks: Local News");}); $(".ArticleOutbrainMetroThumb").click(function() {DMNTrackClick("Article: Outbrain: Metro: Thumbnails");}); $(".ArticleOutbrainMetroList").click(function() {DMNTrackClick("Article: Outbrain: Metro: List");}); $(".ArticleTopPicksMetro").click(function() {DMNTrackClick("Article: Top Picks: Metro");}); $("#ctx-module").click(function() {DMNTrackClick("Article: Contextly");}); </script> <script type="text/javascript">jqLoad.push(function(){contextlyInit();});</script> </div> <div id="right" class="col-sm-4 right-column narrow-column">  <div class="positiondfpTopLeft adPosition" id="dfpTopLeft"> <script type="text/javascript">googletag.display('dfpTopLeft');</script> </div> <div class="positiondfpPosition1 adPosition" id="dfpPosition1"> <script type="text/javascript">googletag.display('dfpPosition1');</script> </div> <div class="positiondfpPosition2 adPosition" id="dfpPosition2"> <script type="text/javascript">googletag.display('dfpPosition2');</script> </div> <div class="widget code jsp widget-editable viziwyg-section-4 inpage-widget-2039139"> <script type="text/javascript"> var trendingSection = "business" </script> </div> <div class="widget code html widget-editable viziwyg-section-4 inpage-widget-2039278"> <div id="trendingdata-container"></div> <script type="text/javascript">var trendingCount = 3;</script> <script type="text/javascript">var trendingThumbs = 1;</script> <script src="https://web.archive.org/web/20151012095050js_/http://res.dallasnews.com/resrsc/js/trending.js?noncache"></script> </div> <div class="tf1f3 r5 sbd text-capitalize simple-separator-top grey"> <a class="link-title" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/video/">video</a> </div> <div class="widget code html widget-editable viziwyg-section-4 inpage-widget-521369"> <div class="ndn_embed" data-config-widget-id="23653" data-config-type="VideoLauncher/Slider300x250" data-config-tracking-group="90850"></div> </div> <aside class="widget columnist sportsSummaryViewWrapper"> <h1 class="sportsSummaryViewHeader h3 tf1f3">About Will Deener</h1> <p class="textBody"> <strong>MOST UNFORGETTABLE EXPERIENCE ON THE JOB:</strong> Covering the crash of the Internet stocks and Enron in 2000-2002. <br><br> <strong>SOMETHING PEOPLE DON'T KNOW ABOUT ME:</strong> I got Mickey Mantle's autograph just before he died; and Martin Sheen once wore my tie. <br><br> <strong>IF I HAD TWO SPARE HOURS, I WOULD:</strong> Go to the driving range and hit golf balls. <br><br> <strong>THE GREATEST CHALLENGE TO COVERING BUSINESS:</strong> Dallas doesn't have the financial and market experts that, say, New York, Chicago, Boston and Los Angeles do. </p> <p class="textBody"> <span class="tf1f3">Hometown:</span> Born in Memphis, Tenn.; grew up in Greenville, Miss.; currently live in Farmers Branch. </p> <p class="textBody"> <span class="tf1f3">Education:</span> B.A. Journalism from University of North Texas; Masters degree in Business from University of Texas at Dallas. </p> <p><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/">Archive</a></p> </aside> <div class="tf1f3 r5 sbd text-capitalize simple-separator-top noHeadlines"> <a class="link-title" href="index.jsp">will deener columns</a> </div> <div class="widget list detailed noHeadlines "> <div class="content"> <div class="article first simple-separator"> <h3 class="h7 tf1f2 sbn"> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20151011-will-deener-the-proof-bond-traders-are-smarter-than-stock-traders.ece" class="viziwyg-editable viziwyg-field-2477929-TITLE viziwyg-section-7893"> Will Deener: The proof bond traders are smarter than stock traders </a> </h3> </div> <div class="article simple-separator"> <h3 class="h7 tf1f2 sbn"> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20151004-removal-of-nasty-stuff-from-earnings-is-troubling-trend.ece" class="viziwyg-editable viziwyg-field-2465437-TITLE viziwyg-section-7893"> Will Deener: Removal of nasty stuff from earnings is troubling trend </a> </h3> </div> <div class="article "> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150927-deener-the-bull-market-runs-long-but-gets-no-love.ece" class="headline-list-img headline-list-img-left"> <img src="https://web.archive.org/web/20151012095050im_/http://www.dallasnews.com/business/columnists/will-deener/20150927-wall_street_38615712.ece/ALTERNATES/w320/WALL_STREET_38615712" alt="" class=" inpage-cropable inpage-image-2454197-ALTERNATES-w320 inpage-dim-320-200 viziwyg-section-7893 " title="" width="320" height="200"/> </a> <h3 class="h7 tf1f2 sbn"> <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/columnists/will-deener/20150927-deener-the-bull-market-runs-long-but-gets-no-love.ece" class="viziwyg-editable viziwyg-field-2454198-TITLE viziwyg-section-7893"> Deener: The bull market runs long but gets no love </a> </h3> </div> </div> </div> <div class="widget code html widget-editable viziwyg-section-4 inpage-widget-2095071 simple-separator"> <div style="clear:both;height:1.5rem;"> </div> </div> <iframe src="https://web.archive.org/web/20151012095050if_/http://res.dallasnews.com/interactives/bizfrontpage/stock_rail.html" width="310" height="725" frameborder="0"> </iframe> <div class="tf1f3 r5 sbd text-capitalize simple-separator-top"> watch list </div> <div class="widget code html widget-editable viziwyg-section-6519 inpage-widget-1529103"> <div id="TXDAM-373f357b5a15dc1181f8001422b1a5a7" class="ap-json"></div> </div> <div class="widget code html widget-editable viziwyg-section-4 inpage-widget-1419310"> <div style="clear: both;"></div> </div> <div class="widget code html widget-editable viziwyg-section-4 inpage-widget-2095071 simple-separator"> <div style="clear:both;height:1.5rem;"> </div> </div> <div class="widget code html widget-editable viziwyg-section-6519 inpage-widget-1600644"> <a class="twitter-timeline" data-dnt="true" href="https://web.archive.org/web/20151012095050/https://twitter.com/dallasnews/dmn-biz-staff" data-widget-id="456184455711821824">Tweets from https://twitter.com/dallasnews/dmn-biz-staff</a> <script>!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");</script> </div> <div class="widget code html widget-editable viziwyg-section-4 inpage-widget-1896079"> <div class="tf1f3 r5 sbd groupHeadline simple-separator-top"> <a class="link-title text-capitalize" href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/add-remove-subscriptions.html">Newsletters</a> </div> <div class="simple-separator"> <div class="DMNRRModule center-300"> <div class="DMNContentModule"> <div class="DMNContentModuleLink"> <p> <a href="https://web.archive.org/web/20151012095050/http://myaccount.dallasnews.com/account/index#dmn_headline_news">Subscribe to a variety of newsletters</a></p> </div> <div class="widget code html"> <img src="https://web.archive.org/web/20151012095050im_/http://res.dallasnews.com/skins/dmn/gfx/newsletters/arrow_black.gif" style="display:inline;"/><span style="font-size: 0.8em;line-height:1.5em;font-weight: bold;padding:0 0 0 5px;">Biz Insight:</span> <span style="font-size: 0.7em;line-height:1.5em;font-weight: normal;padding:0 0 0 5px;"><a href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/account/index#dmn_biz_insight" style="font-weight:normal;" target="_blank">Subscribe</a>  |  <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/newsletters/biz-insight/?service=newsletter" style="font-weight:normal;" target="_blank">Preview</a></span><br/> <img src="https://web.archive.org/web/20151012095050im_/http://res.dallasnews.com/skins/dmn/gfx/newsletters/arrow_black.gif" style="display:inline;"/><span style="font-size: 0.8em;line-height:1.5em;font-weight: bold;padding:0 0 0 5px;">Commercial Real Estate:</span> <span style="font-size: 0.7em;line-height:1.5em;font-weight: normal;padding:0 0 0 5px;"><a href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/account/index#dmn_comm_realestate" style="font-weight:normal;" target="_blank">Subscribe</a>  |  <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/newsletters/commercial-real-estate/?service=newsletter" style="font-weight:normal;" target="_blank">Preview</a></span><br/> <img src="https://web.archive.org/web/20151012095050im_/http://res.dallasnews.com/skins/dmn/gfx/newsletters/arrow_black.gif" style="display:inline;"/><span style="font-size: 0.8em;line-height:1.5em;font-weight: bold;padding:0 0 0 5px;">Economy and You:</span> <span style="font-size: 0.7em;line-height:1.5em;font-weight: normal;padding:0 0 0 5px;"><a href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/account/index#dmn_pers_finance" style="font-weight:normal;" target="_blank">Subscribe</a>  |  <a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/newsletters/personal-finances-nl/?service=newsletter" style="font-weight:normal;" target="_blank">Preview</a></span><br/> </div> </div> <div style="clear:both;"></div> </div> </div> </div> <div style="clear: both;"></div> <div style="margin-bottom: 15px;"></div> <div class="positiondfpPosition3 adPosition" id="dfpPosition3"> <script type="text/javascript">googletag.display('dfpPosition3');</script> </div> <div class="positiondfpPosition4 adPosition" id="dfpPosition4"> <script type="text/javascript">googletag.display('dfpPosition4');</script> </div> </div> </div> <div id="footer">  <footer class="simple-separator-top ptd"> <nav> <div id="feed-lot" class="feed-lot panel-flat-medium small"> <div class="pad"> <div class="row"> <div class="col-sm-9 sbd"> <a class="footer-logo pull-left" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/"><img class="img-responsive-vertical" src="https://web.archive.org/web/20151012095050im_/http://res.dallasnews.com/basic/img/logos/dmn.svg"/><span class="sr-only">Dallasnews.com</span></a> <a class="footer-full-site-link" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/site-map/">Full Site Map</a> </div> <div class="col-sm-3 sbd"><a id="feed-lot-close" href="#" class="fico icon-close feed-lot-button pull-right" data-display="feed-lot" data-trigger-class="feed-lot-button"> Close</a></div> <div class="col-sm-7"> <div class="row sbd"> <div class="col-sm-3"> <ul class="h7 list-unstyled svn"> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/">Home</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news">News</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/business/">Business</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sports/">Sports</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/entertainment/">Entertainment</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/lifestyles/">Life</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/opinion/">Opinion</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://obits.dallasnews.com/obituaries/dallasmorningnews/">Obituaries</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/weather/">Weather</a></li> </ul> </div> <div class="col-sm-3"> <ul class="h7 list-unstyled svn"> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/investigations/">Investigations</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/photos/">Photos</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/video/">Video</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/blogs/">Blogs</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news/crime/">Crime</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/traffic/">Traffic</a></li> </ul> </div> <div class="col-sm-3"> <ul class="h7 list-unstyled svn"> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/autos/">Autos</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/real-estate/">Real Estate</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/jobs/">Jobs</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://findnsave.dallasnews.com/">Shopping</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/classifieds/">Marketplace</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://www.legacy.com/celebration/dallasmorningnews/">Celebrations</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://mypublicnotices.com/dallasmorningnews/PublicNotice.asp">Legal Notices</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.gadzoo.com/dallasmorningnews/pets.aspx">Pets</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://placeads.dallasnews.com/">Place an Ad</a></li> </ul> </div> <div class="col-sm-3"> <ul class="h7 list-unstyled svn"> <li><a href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/select-device.html">ePaper</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://digital.olivesoftware.com/Default/skins/DallasMorningA/client.asp?skin=DallasMorningA" target="_blank">Newspaper Archives</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://local.dallasnews.com/">Local Business Listings</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://dmnmedia.com/resources/media-kits">Media Kit</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/mobile-apps/">Mobile Apps</a></li> <li class="dmn1"><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/ebooks/">eBooks</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://shopping.dallasnews.com/SS/Tiles.aspx">Special Sections</a></li> </ul> </div> </div> </div> <div class="col-sm-2"> <a class="tf1f3 h6 stn" href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/">My Account</a> <ul class="h7 list-unstyled svn"> <li><a href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/">Pay Bill</a></li> <li><a href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/">Suspend Delivery</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://res.dallasnews.com/backorder/">Back Copies</a></li> </ul> <a class="tf1f3 h6" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/contact-us/">Contact Us</a> <ul class="h7 list-unstyled svn">  <li><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/sharedcontent/dws/img/2015internflyer.pdf">2015 Intern Program</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/news-tips/">News Tips</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://res.dallasnews.com/contactus/">Feedback/questions</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://res.dallasnews.com/newsstand_feedback/">Newsstand Feedback</a></li> </ul> </div> <div class="col-sm-3"> <div class="tf1f3 h6 stn">Related Sites</div> <ul class="h7 list-unstyled svn"> <li><a href="https://web.archive.org/web/20151012095050/http://www.aldiatx.com/">AlDiaTX</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://fdluxe.com/">FD</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://guidelive.com/">GuideLive</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://sportsdaydfw.com/">SportsDayDFW</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://neighborsgo.com/">neighborsgo</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://digital.olivesoftware.com/Olive/ODE/ParadeD">Parade</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://www.dentonrc.com/">DentonRC.com</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://www.findnsave.com/">Find&Save Local Shopping</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://www.txweddings.com/">The Texas Wedding Guide</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://www.dgpublications.com/">Design Guide Texas</a></li> <li><a href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/lifestyles/health-and-fitness/top-doctors/">Top Doctors</a></li> </ul> </div> </div> </div> </div> <ul class="list-inline list-inline-separated list-unstyled small sts"> <li><a id="feed-lot-button" class="feed-lot-button" data-display="feed-lot" data-trigger-class="feed-lot-button">Site Map</a></li> <li><a target="_top" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/about-us/">About Us</a></li> <li><a target="_top" href="https://web.archive.org/web/20151012095050/https://ahbelo.mua.hrdepartment.com/ats/">Careers</a></li> <li><a target="_top" href="https://web.archive.org/web/20151012095050/http://www.dmnmedia.com/">Advertise</a></li> <li><a target="_top" href="https://web.archive.org/web/20151012095050/http://join.dallasnews.com/subscribe/">Subscribe</a></li> <li><a target="_top" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/contact-us/">Contact Us</a></li> <li><a target="_top" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/privacy-policy/">Privacy Policy</a></li> <li><a target="_top" href="https://web.archive.org/web/20151012095050/http://www.dallasnews.com/terms/">Terms of Service</a></li> <li><a target="_top" href="https://web.archive.org/web/20151012095050/https://myaccount.dallasnews.com/signin.html">My Account</a></li> </ul> </nav> <p id="footer-copyright" class="small fade">©2015, The Dallas Morning News Inc. All Rights Reserved.</p> </footer> <div class="widget code html widget-editable viziwyg-section-4 inpage-widget-2010846">  <script>document.write("<scr"+"ipt src='https://web.archive.org/web/20151012095050/http://mpp.vindicosuite.com/mpp/?y=2&t=j&tp=1&clid=13085&pixid=99084702&rnd=<timestamp_here>&u="+escape(parent.document.location)+"&r="+escape(parent.document.referrer)+"'></scri"+"pt>");</script><noscript><img src="https://web.archive.org/web/20151012095050im_/http://mpp.vindicosuite.com/mpp/?y=2&t=i&tp=1&clid=13085&pixid=99084702&rnd=<timestamp_here>" width="0" height="0" border="0"></noscript>  </div> </div> </div> </div> <script type="text/javascript"> //<![CDATA[ var clientDT = new Date().getTime(); document.write('<img style="display:none;" src="https://web.archive.org/web/20151012095050/http://stats.dallasnews.com/analysis-logger/Logger?rt=1&ctxId=7893&pubId=1&cat=&meta=read-news&objId=2454198&type=article&title=Deener%3a+The+bull+market+runs+long+but+gets+no+love&url=http%3a%2f%2fwww.dallasnews.com%2fbusiness%2fcolumnists%2fwill-deener%2f20150927-deener-the-bull-market-runs-long-but-gets-no-love.ece&clientDT=' + clientDT + '" alt="" width="1" height="1"/>'); //]]> </script> <noscript> <div> <img src="https://web.archive.org/web/20151012095050im_/http://stats.dallasnews.com/analysis-logger/Logger?rt=1&ctxId=7893&pubId=1&cat=&meta=read-news&objId=2454198&type=article&title=Deener%3a+The+bull+market+runs+long+but+gets+no+love&url=http%3a%2f%2fwww.dallasnews.com%2fbusiness%2fcolumnists%2fwill-deener%2f20150927-deener-the-bull-market-runs-long-but-gets-no-love.ece" alt="one pixel graphics" width="1" height="1"/> </div> </noscript> <script type="text/javascript"> s_account2 = "ahdallasnews"; om_linkInternalFilters="javascript:,dallasnews.com"; om_fpcdomain="dallasnews.com"; var omPrimarySection = "business"; var omPageName = "basic:business:columnists:will-deener:article"; var omSiteSection = "basic"; var omSubSection1 = "basic:business"; var omSubSection2 = "basic:business:columnists"; var omSubSection3 = "basic:business:columnists:will-deener"; var omSectionContentType = "basic news article"; var omArticleTitle = "basic: Deener: The bull market runs long but gets no love"; var omDirectoryPath = "basic/business/columnists/will-deener/article"; var omArticleId = "2454198"; var omPageType = "free"; var omAuthor = "Will Deener"; var omLoginId = ""; var omSubscriber = ""; try { if (OASgetCookie("OASImgEmail") != null && OASgetCookie("OASImgEmail").length > 0) { omLoginId = OASgetCookie("OASImgEmail"); } if (OASgetCookie("pimg2") != null && OASgetCookie("pimg2").length > 0) { omSubscriber = "subscriber"; } } catch (e) {} </script>  <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/omniture_s_code.js"></script> <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/omniture.js"></script> <script type="text/javascript" src="/web/20151012095050js_/http://www.dallasnews.com/resources/js/omniture_pagecall.js"></script>  <script type="text/javascript" src="https://web.archive.org/web/20151012095050js_/http://b.scorecardresearch.com/beacon.js"></script> <script type="text/javascript"> COMSCORE.beacon({ c1:2, c2:"6036246", c3:"", c4:"", c5:"", c6:"", c15:"", options: {url_append: "comscorekw=basic"} }); </script> <noscript> <div style="display:none;"><img src="https://web.archive.org/web/20151012095050im_/http://b.scorecardresearch.com/b?c1=2&c2=6036246&c3=&c4=&c5=&c6=&c15=&cv=1.3&cj=1" alt=""/></div> </noscript>   <div id="parsely-root" style="display: none"> <a id="parsely-cfg" data-parsely-site="dallasnews.com" href="https://web.archive.org/web/20151012095050/http://parsely.com/">Powered by the Parse.ly Publisher Platform (P3).</a> </div> <script type="text/javascript"> (function(s, p, d) { var h=d.location.protocol, i=p+"-"+s, e=d.getElementById(i), r=d.getElementById(p+"-root"), u=h==="https:"?"d1z2jf7jlzjs58.cloudfront.net" :"static."+p+".com"; if (e) return; e = d.createElement(s); e.id = i; e.async = true; e.src = h+"//"+u+"/p.js"; r.appendChild(e); })("script", "parsely", document); </script>  <script type="text/javascript"> var cbSection = typeof omPrimarySection === 'undefined' ? '' : omPrimarySection, cbAuthor = ''; var _sf_async_config = _sf_async_config || {}; cbAuthor = 'Will Deener'; _sf_async_config.sections = cbSection; _sf_async_config.authors = cbAuthor; (function(){ function loadChartbeat() { window._sf_endpt=(new Date()).getTime(); var e = document.createElement('script'); e.setAttribute('language', 'javascript'); e.setAttribute('type', 'text/javascript'); e.setAttribute('src', (('https:' == document.location.protocol) ? 'https://web.archive.org/web/20151012095050/https://a248.e.akamai.net/chartbeat.download.akamai.com/102508/' : 'https://web.archive.org/web/20151012095050/http://static.chartbeat.com/') + 'js/chartbeat.js'); document.body.appendChild(e); } var oldonload = window.onload; window.onload = (typeof window.onload != 'function') ? loadChartbeat : function() { oldonload(); loadChartbeat(); }; })(); </script>  <script class="kxct" data-id="H85p6YR8" data-version="async:1.7" type="text/javascript"> window.Krux||((Krux=function(){Krux.q.push(arguments)}).q=[]); (function(){ var k=document.createElement('script');k.type='text/javascript';k.async=true; var m,src=(m=location.href.match(/\bkxsrc=([^&]+)/))&&decodeURIComponent(m[1]); k.src = /^https?:\/\/([^\/]+\.)?krxd\.net(:\d{1,5})?\//i.test(src) ? src : src === "disable" ? "" : (location.protocol==="https:"?"https:":"http:")+"//web.archive.org/web/20151012095050/http://cdn.krxd.net/controltag?confid=H85p6YR8"; var s=document.getElementsByTagName('script')[0];s.parentNode.insertBefore(k,s); })(); </script>  <img src="https://web.archive.org/web/20151012095050im_/http://ads.undertone.com/f?pid=17784&cb=1444643451182" alt="" style="display: none;" border="0" height="1" width="1"/> <script type="text/javascript">var cache_buster = parseInt(Math.random()*99999999);document.write("<img src='https://web.archive.org/web/20151012095050/http://p.rfihub.com/ca.gif?rb=5021&ca=20519891&ra=" + cache_buster + "' height=0 width=0 style='display:none' alt='Rocket Fuel'/>");</script> <noscript><iframe src="https://web.archive.org/web/20151012095050if_/http://20519887p.rfihub.com/ca.html?rb=5021&ca=20519891&ra=" style="display:none;padding:0;margin:0" width="0" height="0"></iframe></noscript> <script type="text/javascript" src="https://web.archive.org/web/20151012095050js_/http://cdn1.dallasnews.com/basic/js/common_v32.js"></script> </body> </html>