What's the most common reason a bull market comes to an end?
"The Federal Reserve raises interest rates and slows the economy" to prevent inflation from overheating, says Richard Skaggs, senior equity analyst at Loomis Sayles.
Today there's little risk of such hikes. Slow growth (the U.S. economy actually contracted slightly late last year) has kept a lid on energy prices, hiring, and salaries -- and that's unlikely to change soon. As a result, the Fed plans to keep rates at or near record lows through at least 2015.
In the topsy-turvy market of the past five years, these managers led their funds to the best performances. Here's what they're bullish on now.