Ten years into the bull market, we operate in a heightened state of awareness for any indication of market weakness that may signal a downturn. While debt levels are rising and GDP growth somewhat sluggish, the world of private equity, public equity, and M&A continues to be in full swing bull market mode.
Our thesis at HGP is that nearly all asset classes during this bull market can trace their success to a single source: low-interest rates. Low-interest rates increase the money supply, increase the availability of debt, reduce returns expectations, and, as a result of all these things, cause valuations to rise. There arguably has not been a better time in modern history to ride the wave of rising valuations than the last 10-years.
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Source: HIT Consultant
