One Bank Reminds You That “Grumpy Isn’t Just One Of Snow White’s Dwarfs”
Who's fired the fuck up about record high equity prices?!
Well, you can bet retail investors are. Because from the conversations I've had, they clearly do not appreciate the fact that they did not suddenly become gurus in early 2009.
Or, put differently, they have virtually no conception of the extent to which trillions upon trillions of central bank liquidity is the driving force behind their outsized returns.
So there is nothing to curb their enthusiasm.
It's as though every average Joe
The more people negative the better. It’s called the wall of worry.