The Stock Market Will Drop Sharply If History Repeats. Warren Buffett Explains Why.
The U.S. stock market is charging higher at an astonishing pace. Since March, the S&P 500 (SNPINDEX: ^GSPC) had advanced 16%, while closing higher in nine straight weeks. And the Nasdaq Composite (NASDAQINDEX: ^IXIC) has advanced 25%, its largest two-month return since 2002. Yet the stock market is vulnerable. Treasury yields spiked in May as…