Michael Farr Is 'Bullish On The Future Of America' But Cautions On The Stock Market

Farr noted that he is both "positive" and "bullish" on the future of America, but he also recognizes that the stock market may be already pricing in this exact future bullish sentiment at its current levels.

As such, Farr thinks that the bull market, which is pushing a decade, could make a turn. He added that the cautious view is further supported by the fact that some of President Donald Trump's proposals, such as tax reform and repatriation of offshore cash haven't seen much notable progress. Related Link: Attention Investors: Washington Could Ruin Wall Street's Party

Farr continued that current sentiment across both Wall Street and Main Street is the fact that politics is clouding everyone's minds.

"There are so many distractions that are hitting media and investors," he said. "It's really tough to figure out which fundamentals are driving anything in the near term."

Finally, Farr did suggest that the Dow Jones could, in theory, drop two points, but on the other hand, there is little stopping it from gaining another two thousand points. As such, investors should be extra careful and be sure to "have a seat when the music stops."