Warren Buffet in online media has referred to stock market as an online casino and has 500 billion in cash.
https://finance.yahoo.com/news/warren-buffett-says-stock-market-212445057.html
I moved to cash two years ago but the madness continues. In my opinion banks and energy are the only stocks worth holding today.
Energy is in short supply and debt always leads an economy out of a recession. Australia is short of a million homes and it will require debt to build them.
I take notice of warren buffet a traditional investor because he follows old school logic and real economics. Currently hobby investors, super funds have transformed the current stock markets into casions. Many asx companies are paying under 10% dividend which indicates the market is over valued.
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