Global equity markets have been on a tear in recent years, with the benchmark U.S. SP 500 index having made solid triple digit returns over the span of the last several years. Markets have been climbing since the 2009 lows, and continue to make new all-time highs.

This run higher in the equity markets as well as current valuation levels obviously begs a few questions:

-Will the rally continue?

-Are stocks overpriced at current levels?

-Is this a set up for a nasty correction?

-What has driven such significant upside?

We feel it is important to address some of these questions, as we believe the day will come when equity investors once again run for the exits. In turn, we believe that gold and precious metals could stand to benefit handsomely if and when this does in fact occur.