Getty Are you prepared?Shh. Listen closely. Hear that? That’s the sound of a stock-market tsunami siren, according to Wolf Richter of the Wolf Street blog. We don’t know when it will hit, only that it WILL hit. And, as with many things market-related, “it will be ignored until it’s too late,” Richter cautioned before laying out what’s currently troubling him about this aging bull market. Specifically, he’s worried about stretched valuations and stagnant results. “Since July 2012, the trailing 12-month earnings per share of all the companies in the S&P 500 index SPX, +0.09% rose just 12% in total,” Richter wrote. “Or just over 2% per year on average. Or barely at the rate of inflation – nothing more.” And he points out that those numbers are calculated using “adjusted earnings,” the results companies tweak to take “the bad stuff” out and cast progress in the most favorable light possible.via