Traders work on the floor of the NYSE.NYSEWith the stock market up nearly 70% in less than nine months, in a year when the S&P 500 made a new record high an average of every eight trading days, as individual investors have already thrown unprecedented sums into equities over six weeks and fund managers’ cash reserves sit near eight-year lows — who are the next ready buyers of this bull market?There’s a sense in which it’s a fruitless and thankless exercise to identify the marginal buyers or sellers in a complex $35 trillion stock market with most inflows and outflows opaque. …
