But a sharp downturn is coming and will be as bad as the 2008 shock, according to Marc Faber, who has warned investors are too complacent.
He told CNBC: "You don't see, and I don't see. And, nobody sees. That's why people keep buying stocks.
"And yet, something will happen one day."
He previously said billions of pounds worth of holdings will be lost when stocks fall a huge 40 per cent.
And said the crash is likely to happen when Wall Street least expects it.
There are several scenarios that could trigger market carnage, according to Mr Faber.
The pessimistic critic said: "I think it may very well come from a credit event.
"Or, it may come from the disclosure of a major fraud.
"Or, it may come because interest rates start to go up."
US stock markets continue to reach for the sky as the US Federal Reserve yesterday signalled further rises in interest rates.
The S&P 500 has hit 36 record highs this year, while the Dow has notched up 41 highest ever closes.
But the US Fed has forecast three rate hikes next year and there could also be a rate rise in December.
Dr Doom, as Mr Faber has come to be known, said the market is overvalued: "In 2009 when stocks bottomed out, I can tell you that not many people saw why stocks would go up.
"Now it's the opposite. The sky is clear. Corporate profits have been expanding — they're good.
"Interest rates are low, but valuations are very high."
- Source, Express
