1. I hope you are right.. No one wants to see any more economic trauma than necessary 2. You post has had more upvotes than mine, so I would seriously question your claim that you are "in the minority" 3. The market is not always right: it is prone to all of the basic human emotions: fear of loss, greed, FOMO... we have speculative mania's and busts all the time so the market is clearly not always "right".. 4. A few posts ago, you admonished me for trying to talk about the link between the state of the economy, and the market. I think you said something to me like "macro economics is completely meaningless". Now you are trying to say that a good GDP number is meaningful? I'm confused
Its pretty obvious to me that we have a bit of a speculative mania going on right now... DOU is a great example! . Lots of retail, with their government stimulus cheques etc, wading in to speculative stocks left right and centre. Who knows when that will settle down.
I try hard not to make big calls about the short term direction of the market, just observations about the macro picture. Who knows ever, at any point, what the market will do next hey
The vast bulk of my wealth is tied up in long term assets. I am more interested in the bigger picture, or macro view, and the broader economy than what the XJO will do tomorrow, or even this month.
This whole palava still has a long way to run: globally we are in uncharted territory, with lots of uncertainty, so I would be careful personally about making any emphatic statements..
(20min delay)