Bloody Murder
Lots of wailing and gnashing of teeth these days over the grind-down in the US stock market, but nobody notes that year-to-date the S&P 500 is still up, albeit a measly 1.47%, including dividend reinvestment.
Year-over-year, the S&P is up a slightly more respectable 3.04%, again with dividends reinvested. Far short of Siegel's Constant, mind you, but nothing to justify all of the recent whining.
Short-term the market is being pressured by many concerns, of course, including interest rates, commodity prices, and the war of idiocy between Washington and Tehran, but long-term the valuation picture looks pretty, with the S&P trading below its historical average Price-to-Earnings ratios.
We do have an interesting return to volatility, but we do not have anything for an actual stock investor to be crying about. Call me old-fashioned, but I still prefer to buy assets when they're cheaper.