Complacency, remember this word next correction or sell off. Valuations are “stretched” and I keep listening to respected market participants say the economic reality is diverging from company share prices. Yes, we may not enter a recession in 2020… I get it, things don’t look as bad as they did at the beginning of 2019. But what is driving this rally? Rate cuts, tax cuts and easing trade tensions. Perpetual stimulus won’t end well and hopefully the US economy crash lands with the landing gear stuck, rather than nose first.