From the recession bottom March 9, 2009, through May 26, 2017, the S&P 1500 Index has gained 332.1%, meaning $1.00 invested in the index and held over that period would have grown to $4.32. What an opportunity for wealth accumulation! Yet, at ICON we suspect many investors, from pension plans to individuals, did not fully participate. We have been guided by our ICON valuation methodology which consistently indicated stocks, on average, were never over-priced typical of market peaks. In our commentaries to investors and interviews, we regularly stated that we were in a multi-year bull market and that stock prices could go higher. Let’s borrow from David Letterman and poke a little fun at those who missed out!