I don't think there has been any fundamental improvement to underlying factors since the GFC. The US has been artificially stimulated now for so long there's mass hysteria at the thought that the stimulus will stop and eventually interest rates will begin to rise.
Then there are several points of instability throughout the world. Confidence has little reason to exist.
Here the political wrangling is additionally reducing business and consumer confidence and our market, even before the last week, is still way off the pre-GFC high.
If I were substantially invested in shares right now, I'd have pulled the lot early last week.
I only have a very small amount of total investible capital in shares, all in a yield p/f of solid top 100, bar one, bought with the clear intention of accepting volatility as long as the grossed up yield continues to be so significantly above at call cash rates.
We don't know whether this is just a small correction of the start of something much worse. I absolutely wouldn't be leaving a large amount of money in the market while we find out.
I am, however, fairly conservative in terms of risk profile.
