Contrarians have it tough these days. The bull market in stocks is raising concerns that we are heading into another bubble, yet there are precious few out-of-favour stocks in which to hide if things go pop.
Indeed, the breadth of the current rally is remarkable. Among the 154 industry groups within the S&P 500 – representing every corner of the U.S. investing landscape – just eight groups are under water in 2013. And even then, most of the losses are relatively slight.