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It's starting to become difficult getting out of bed... No value to buy, no consistency and no sustainability at current levels. System is exhausted and only takes one bad data set to start a sell off here. Back in March last year I said we'd be at all time highs by EOY.
I have a real lack of optimism for what is to come this year. Markets aren't working. Only thing I can buy are bonds. That is only place where you can find value right now.
As I'm sure many of you are aware. Working in finance, there is a natural urgency from high up in firms for you to remain fully invested at all times. I have been debating with partners for many weeks now about myself sitting in 60% cash...
Potentially it is a warning sign for what is to come that they have finally given up... Our firm had huge gains last year... Now we are starting to get short across the board.
It truly does pain me to see the vast amount of new investors. It is all fun and games for them now. Maybe some will get lucky however for the majority of them I feel for them when the house of cards collapses... It will not be pleasant for any.
Divorces, suicides and firms collapsing. From retail investors up to the largest. What is to come isn't nice.
