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A wheezing, unloved bull market tries to keep running

FILE - This Tuesday, March 10, 2009, file photo, shows a digital display board on the floor of the New York Stock Exchange. It’s been seven years since one of the stock market’s best-ever runs began, and investors still don’t feel much of an itch to get involved. Worries are high that the market has already topped out, and a looming recession may knock the S&P 500 down again. It’s an indication of what a strange bull market this has been, and another reminder how important it is to stay diversified. (AP Photo/Henny Ray Abrams, File)
FILE - This Tuesday, March 10, 2009, file photo, shows a digital display board on the floor of the New York Stock Exchange. It’s been seven years since one of the stock market’s best-ever runs began, and investors still don’t feel much of an itch to get involved. Worries are high that the market has already topped out, and a looming recession may knock the S&P 500 down again. It’s an indication of what a strange bull market this has been, and another reminder how important it is to stay diversified. (AP Photo/Henny Ray Abrams, File) FILE - This Tuesday, March 10, 2009, file photo, shows a digital display board on the floor of the New York Stock Exchange. It’s been seven years since one of the stock market’s best-ever runs began, and investors still don’t feel much of an itch to get involved. Worries are high that the market has already topped out, and a looming recession may knock the S&P 500 down again. It’s an indication of what a strange bull market this has been, and another reminder how important it is to stay diversified. (AP Photo/Henny Ray Abrams, File)

By Associated Press 5 min read

NEW YORK (AP) – It’s been seven years since one of the stock market’s best-ever runs began, but the anniversary is passing without a party yet again.

This bull market is the third-longest in history, and investors in mutual funds that track the broad U.S. market have more than tripled their money since a 6 percent jump seven years ago Thursday marked the start of the Standard & Poor’s 500 index’s run.

Investors still don’t believe in it. This bull market has been mistrusted and unloved from the start, even though it has managed to stagger higher amid a government shutdown, a debt crisis in Europe that nearly tore apart the European Union and a growth slowdown in China, the world’s economic engine.

At times, even as the market stayed strong, regular investors were pulling money out of stocks instead of investing more as in past bull markets. Now, worries are high that the market has already topped out, and that a recession may be coming to knock the S&P 500 down again.

The index is down about 7 percent from its peak in May, and other investments like oil and emerging-market stocks have crashed in recent months, turning from bull to bear by falling 20 percent in value from recent highs. It’s an indication of what a strange bull market this has been, and another reminder of how important it is to stay diversified. Nearly three quarters of retirement savings in 401ks and similar plans is in stocks, according to a survey of plans at Vanguard, one of the largest retirement account administrators.