Hold your applause, Dow record highs won't last

Traders react at the end of trade at the New York Stock Exchange in New York.

The Dow broke another record yesterday and is now on its longest record-breaking streak -- six days -- since 1998. And while that all sounds great, one man is not happy.

Allan Sloan, senior editor-at-large at Fortune magazine, is focusing instead on the four-year anniversary of the market bottom.

"The mood was suicidal, the market was crashing, people were scared," Sloan says. "[But] I learned that nothing is forever."

According to Sloan, today's booming market could use a healthy dose of that suspicion.

"I am a student of history, I've seen people stampede up, I've seen people stampede down," Sloan says. "What I try to do is to be half a cycle out of phase."

To hear more investing tips from Allan Sloan, click on the audio player above.

About the author

Allan Sloan is a senior editor-at-large for Fortune magazine.


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