People in Australia put everything into their mortgages and investment properties. The ASX is mostly littered with shorters and dopey superannuation fund managers buying the top 20 ASX stocks. Then you have a few months, or sometimes a year or two of bandwagon retail/fundie trades on flavour of the year stocks but it never lasts long before sell off / shorts move in.
In the US housing is cheaper and they have 100s millions more population that invest in the share market. Money flows into stocks over there. In Australia, people are desperate to buy 7 figure properties and often don't have much left after.
Up to the shorts when they want to take their foot off Zip's throat. Or another Regal comes in like Nov 2023 and shows them how its done
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