Irrational stuff since 2015. Remember Shemitah? Super jubilee?
Yes, agree - very irrational indeed; wall to wall irrational exuberance and a false perception that all capital gains will be realised.
Yes, I remember a lot of bunkum about those things, though I never really looked at what they meant. Are they based on data or logic though? If not, I wouldn't be interested or think they would have had any effect on markets.
I'm more interested in evaluating data and thinking through the logical consequences of central bank actions. Take a look at all the things Trump & Co have to get done before the end of the year to stop the 'reflation trade' unwinding, and have a look at the consequences of Fed tightening and their stated plan to start unwinding their balance sheet. It's a 'fools paradise' at the moment but this won't last. The data is already very soft as it is.
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