In Charts: Global and US Markets: Mania!
Global stocks surge to uncharted territories riding on record global equity flows….
US risk assets fly to the moon…
As valuations reach extremely overstretched conditions…
As retail traders go berserk…
Awesome quotes…
Ben Hunt of the Epsilon Theory:
The stock market is no longer a transmission belt between private capital and companies that can make productive use of that capital. This real-world connection with capital markets has been severed, turning them into political utilities. THIS is financialization.
People forget that illusion happens in clusters. Widespread, extreme overconfidence is a feeding ground for fraud. There is never just one roach when the lights are turned on.
Sven Henrich of the Northman Trader
The greatest trick the devil ever pulled is convince people that permanent intervention and unlimited debt expansion is consequence free and can be a substitute for structural growth.
Finally, from @ProfFeynman (Richard Feynman)
The biggest difference between stupidity and intelligence is: When you're stupid, you think you know everything, without questioning and when you're intelligent, you question everything you think you know.
