No. of Recommendations: 25
Seriously, we need a bear market. Maybe even a secular bear. Given what has been ignored by the market thus far, it's hard to imagine what it would take.
I’ve been wondering about this for some time. There’s just too much money floating around (see: Christie’s auctions, super yachts, etc.), and investors big and small have been trained to jump in at the slightest sign of weakness, always propping up the market, even unreasonably.
Since I don’t expect a sudden wave of “realistic valuations”, the only things I can envision are those sorts of cataclysmic events that cause momentary flights of panic: terrorist bombings in New York, maybe a nuke going off in London, or a major bank failure (and the government refusing to step in as they did with SVB) that threatens to take down the entire system.
Of course it won’t be any of those, since I predicted them, but there’s a gremlin somewhere that’s up the job, I bet.
Seriously, we need a bear. Maybe even a secular bear
My patience is starting to wear thin, I find myself fantasizing about buying things with reserved cash that in another day I would have laughed off as absurd. My one hope is that Bitcoin continues to wank off and margins get called, and, it continues to plunge, and well, you know.
