Goldman Sachs: stock bull market likely to continue in 2020 - Business Insider

since the market's post-financial crisis bottom in March 2009, you've earned a hefty 400% as the bull market has extended well into an 11th year.' Private Wealth Management Division, thinks the good times will keep rolling.Exchanges at Goldman Sachs

Mossavar-Rahmani roots her thesis in hard data, historical anecdotes, and a low probability of a recession in 2020. "Even in the absence of a view of valuation or on earnings growth, the economic backdrop suggests staying invested," she said. "If one is in an expansion, the probability of a positive return is 87%."

"The message again here is that there's a lot upside left if we are still a ways away from a recession," she said. "And the probability of a recession in our view is actually quite low. We're about 20% to 25% probability."Mossavar-Rahmani notes that three historical drivers of economic downturns — the Federal Reserve, economic imbalances, and exogenous shocks — are not cause for concern.

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