Stellar Pacific Ventures Inc.

Published : June 15th, 2015

It's been 1,350 days since the market fell 10%, and that's just fine

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It's been 1,350 days since the market fell 10%, and that's just fine

(flickr.com/an_untrained_eye) Investors have been waiting around for the stock market to fall for years.

It's been 1,350 days since the last stock market correction. 

But at least one analyst doesn't think this is a big deal. 

A correction — defined as a decline of 10% from the most recent highs — hasn't been seen since May 2011, and while this seems like a long time (because it is!) it isn't unprecedented and shouldn't particularly worry investors right now. 

In a note to clients on Monday, Jonathan Golub at RBC Capital Markets said that in the last 25 years, there have been 2 longer, uninterrupted stock market runs.

From 2003-07, the S&P 500 rose without a 10% decline for more than 1,600 days, and from 1990-1997, the S&P 500 rose for more than 2,500 without a 10% pullback.

Here's why Golub doesn't see a 10% correction on the horizon:

In our view, the market’s path forward will likely be uninterrupted for two key reasons:

  1. Bear Markets (-20%). Larger pullbacks are almost exclusively the result of recessions. Economic indicators suggest little risk of such a downturn.
  2. Corrections (-10%). While macro events are the most likely cause of a correction, their impact is more limited in a low volatility environment. As Exhibit 6 shows, volatility tends to drift lower as the cycle matures, lowering the risk of a correction.

Golub adds that while some investors see the Federal Reserve raising interest rates as a potential risk to the market because it will heighten volatility, Golub thinks these fears are overblown. 

Here's the chart Golub cites, overlaying volatility and GDP growth, which he thinks will keep the market chugging along. 

(RBC Capital Markets)

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Stellar Pacific Ventures Inc.

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CODE : SPX.V
ISIN : CA85855B1022
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Stellar Pacific is a gold and copper exploration company based in Canada.

Stellar Pacific holds various exploration projects in Canada and in Guinea.

Its main exploration properties are HEVA, MONSTER LAKE and VASSAN in Canada and BALANDOUGOU GUINEA in Guinea.

Stellar Pacific is listed in Canada. Its market capitalisation is CA$ 1.4 millions as of today (US$ 1.1 millions, € 954 808).

Its stock quote reached its highest recent level on February 18, 2011 at CA$ 0.95, and its lowest recent point on April 04, 2024 at CA$ 0.01.

Stellar Pacific has 24 064 050 shares outstanding.

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Financings of Stellar Pacific Ventures Inc.
7/11/2013AfricaGold Completes Private Placement of $79,600
5/16/2011Closes $ 686,000 Brokered Private Placement
1/10/2008Closes $295,500 private placement
Option Grants of Stellar Pacific Ventures Inc.
2/22/2011Grants 500,000 Stock Options
Nominations of Stellar Pacific Ventures Inc.
6/4/2013Appoints Mr J. Francois Lalonde as COO of the Company
Project news of Stellar Pacific Ventures Inc.
6/15/2011(Monster Lake)Resumes Drilling on Monster Lake, Chibougamau Quebec
6/1/2011(Balandougou Guinea)Drills 47 Meters of 1.64 g/t Gold on Zone B-1, at the SOLOTO...
2/23/2011(Monster Lake)Drills 18.36 g/t Gold Over 1.0 Meters at Monster Lake, Chibo...
5/2/2006acquires key claims next to Typhoon's Fayolle high grade pro...
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6/19/2013Announces the Renewal of all 3 Strategic Exploration Licence...
4/22/2013AfricaGold Inc. Reaches Prefeasibility Stage on B3 and B1 Zo...
2/12/2013Share Consolidation and Change of Name to be Proposed at Sha...
1/16/2013Hires AECOM to Compile Balandougou Results and to Plan 2013 ...
1/8/2013Samples 43.4 g Au/t at the Kandane Artisan Mine Site on the ...
10/22/2012Update on Core Drilling Compilation and Delay in Publishing ...
9/26/2012Inc: RC Drilling Extends B1 Zone for 400 Metres and B3 Zone...
7/20/2011Reports Positive Drill Results on Guinea SOLOTOMO's Gold Str...
7/4/2011Shareholders Approve the Sale of the Mineral Properties Loca...
5/27/2011on Sale of Quebec Assets and Shares Distribution
5/10/2011Drills 12 Meters of 2.27 g/t Gold on Zone B-3, at the SOLOTO...
5/2/2011Transfers Its Quebec Mineral Assets and Proceeds With A Shar...
4/26/2011Update
4/12/2011Names Mackenzie (Mac) Watson to Advisory Board
3/14/2011Hires First Canadian Capital Corp. as Investor Relations
12/27/2007Stelmine Canada Ltd. obtains receipt for final prospectus
2/26/2007Entered in uranium play with claims in Otish Mounts
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