After more than thirty years in the markets, I know one thing: The current market is not what one would call “normal” by any stretch.
We’d be more worried about a recession today, but our worry would be tempered by the fact that it is probably already priced in.
It is hard to find a confident bull in this market.
The VIX volatility index, while elevated, has still not spiked above 50 though, as it has during other market bottoms. We may not be at the bottom yet, but we do think we are probably getting close.
In The Upside Down market, money is fleeing everything: If you are a stock investor, and last year decided it was time to take some profits and shift to bonds, you have lost a ton of money.
Think about that: no one wants stocks, or bonds, or crypto currencies, but “investors” are willing to shell out more than US$300 million for digital land.
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