One of my clients is an economist, well studied, plenty wealthy...

One of my clients is an economist, well studied, plenty wealthy and well respected etc. Anyway we were chatting yesterday and he has liquidated his entire share portfolio as he just doesn’t understand the fake rally's in markets across the world right now as the numbers just don’t add up. He believes when it comes it’s gonna hit real hard and come quickly catch many off guard so why all these new wanna be investors buying big in apt and all the other what I would even call “safer” companies and people in the various threads on this forum are sitting around pumping dog penny stocks their gonna wake up an be cleaned out so to speak.

He said what’s currently happening is “new money” flooding into the market from the work from home tribe that normally never trades or is in dire financial hardship thinking they can get rich quick by “investing” inflation will soon hit as well with the billions/trillions being pumped into economies etc. and like the March crash as the these new investors slowly see their money do pretty much nothing quickly and more job losses hit and the bubble slowly starts to disappear guess what they will do? Pull their money back out in the masses like the boomers did that crashed the market hard last time except it will be worse because most boomers are still out of the market and the recession wasn’t there in march nor had oil crashed then either.

It will all come to ahead soon, even the comm bank is closing branches (I won’t say how I know this) but just look out for massive branch closures and job losses from banks soon as well as other well to businesses that people may have thought untouchable.

The worst hasn’t even started yet, no cure, no vaccine nothing goes back to normal just understand this and both of those things are years off if at ever so don’t listen to the bullsh*t pumps in the biotech penny stock threads either because no one’s even close yet, we still have reinfections to deal with as restrictions ease, what then? Remember the curve is only flattening because people are at home the virus is still out there and still just as contagious, cases in NSW just rose again (look it up) we still have a while yet.