The S&P 500 recently hit a new high as it drove through the 2,000 mark for the first time in history on the day that Burger King announced that it would purchase iconic Canadian fast food chain Tim Hortons.
Thus far in 2014 there have been $2.3 trillion of announced mergers & acquisitions (M&A) transactions around the world - $1.16 trillion in the United States alone - and undoubtedly there are more on the horizon.
Indeed, M&A activity is a major catalyst for the booming stock market and is good for investors.
Unless it's really a sign of a dying bull... If that's the case, we're in some big trouble.
Here's what's got me concerned, and why we need to exercise caution right now...