Read on Twitter
12 CHARTS FOR A PERMA-BEAR CHRISTMAS.
On the first day of Christmas, my perma-bear sent to me
The most confident Dumb Money in history....
On the first day of Christmas, my perma-bear sent to me
The most confident Dumb Money in history....
...the highest market value relative to economic output...
(yeah, the rest of this isn't gonna rhyme)
(yeah, the rest of this isn't gonna rhyme)
...nearly the highest concentration of stocks ever...
...massive inflows to ETFs...
...a rush into equities by overseas investors...
...as mutual funds hold the lowest cash reserves in their history...
...and active investment managers lever up to the biggest degree ever...
...with the most speculative options market in at least 20 years...
...triggering a drop in hedging activity across the board...
...and the biggest concentration of indicators showing excesses in more than 15 years...
...except for a few souls who are starting to price in a potential crash...
...and corporate insiders, who are staying far, far away...
If you can spot problems with some of these charts, so do we. This is not a balanced view, and it ignores several important factors.
These are from perma-bears, after all.
And to all a good night.
These are from perma-bears, after all.
And to all a good night.
