The amateurs are having the time of their lives and think that as long as no one sells - prisoner’s dilemma? - nobody gets hurt.
…some wag on Twitter recently told me he sold his Apple because it didn’t move fast enough - is the old-fashioned, stultified, loser market that the ancient mariners cling to and are destined to be dinosaurs in a couple of years’ time.
Whatever you feel, RHer you are entitled to your opinion.
Didn’t old man Cramer tell people to go all in just a week to two ago? What’s up with playing innocent now? Want to sit on both sides at the same time?
That’s why I don’t invest in Chinese companies anymore. China is going back to the Mao era. Not “unexpected” if you paid any attention to what Xi has been up to in the last two years. The private sector is getting too big and too powerful for the communists.
In summary, 2021 should be a strong year for the markets based on all the recent institutional buying and the continued low interest rate environment. I am expecting a correction during the first quarter to shake out some of the excessive bullishness. But when the dust settles, this will be a buyable event.