It's never been dumber, despite evidence of dumbness in previous bubbles.
That's the thing, people like you follow the sheep when it comes to investing without understanding balance sheets or economics. That's what causes bubbles. When the majority of market participants who don't know what they're doing outweigh those that do.
Beyond Qantas being an obviously broken busines to those with a brain and two eyes in their head the market is also completely disregarding all other signs of a bubble. Consider:
1 - Evergrande (the world's most indebted real estate comnpany on Earth) is about to default. They missed their bond coupon payment on Thursday. The market is going up.
2 - China banned all crypto activity on Friday (clearly stopping capital outflows from China in the face of a panic). BTC is now trading at the same levels as when this announcement was made. Etherium is actually now higher.
In pre-covid days when capital markets weren't this dyfunctional, if you knew of the timing of each of the above announcements you'd bet your house on the fact that relevant markets would crash upon their announcements. Now markets aimlessly go up regardless of any fact or logic and the dumber part of society just follow the herd without questioning what is going on.
If / when Qantas and the markets were to crash, wouldn't you look back and think "damn, why didn't I see that coming"?
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Last
$6.34 |
Change
0.060(0.96%) |
Mkt cap ! $10.33B |
Open | High | Low | Value | Volume |
$6.32 | $6.42 | $6.25 | $31.06M | 4.892M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 12466 | $6.34 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.35 | 19833 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 14945 | 6.650 |
1 | 1 | 6.550 |
1 | 3621 | 6.480 |
2 | 1251 | 6.400 |
2 | 57 | 6.390 |
Price($) | Vol. | No. |
---|---|---|
5.710 | 596 | 1 |
6.030 | 6215 | 3 |
6.200 | 141 | 1 |
6.270 | 198 | 1 |
6.300 | 81 | 1 |
Last trade - 16.10pm 26/08/2024 (20 minute delay) ? |
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