Investors in the US have given up hunting for quality stocks and are simply riding the wave of upward momentum

Investors in the US have given up hunting for quality stocks and are simply riding the wave of upward momentum. The Feds near-zero interest rate turns five years old next month, the longest period without an increase in history. Coupled with more than $3 trillion of asset purchases and it's causing parts of the market to behave strangely. A Goldman Sachs index of companies with weaker balance sheets has rallied 42 percent this year, almost doubling the gain in a measure of more creditworthy firms. At some point we'll have to pay the price of this, said Michael Shaoul, CEO of Marketfield Asset Management. But it's a long way off. I would be very surprised if this bull market ended sooner than 18 months, and maybe it's 36 months, (VIEW LINK)