HOW HIGH CAN WE GO? With impeachment rhetoric raging and drones and missiles flying around Iraq, there has been plenty to concern investors over the past few weeks. While these events can certainly cause volatility in our markets, nothing seems to be distressing the markets for long. The stock markets just keep setting new all-time highs. While there were many concerns about a recession only a few months ago, economists now seem to have decided that a recession should not be a problem until mid-2021 at the earliest. As Federated Investors’ Stephen Auth expressed in his 2020 views this week: “This secular bull has very strong foundations…a ‘third industrial revolution’ in the digitization

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