Without a doubt, one of the most entertaining accounts I follow on Twitter is @TikTokInvestors which posts some of the most insightful, intelligent, and well, yeah, videos on the internet from TikTok:
And it goes on and on, and on, and on. CNBS, FBN, Bloomberg all sound the same. The “reflation” trade is the place to be, no way we’ll have a crash with Biden in charge, and my favorite refrain lately is Dow 50,000 is not insane.
Yes, it is insane, just like the $100,000 Bitcoin, $10,000 gold bugs, and $10,000 AAPL crowd.
Folks, bubbles pop. And more evidence that a major, if not absolute historic top is getting close was posted at Advisor Perspectives:
Good God people, this is it.
But hey, don’t let that stop you from speculating. This has actually been easier than blackjack or roulette when you see insanity like Gamestop this week:
Yet back in February, before the real pandemic crisis was realized the news was like this (via MotleyFool):
The model for brick and mortar retailing has not changed yet a stock that was barely worth $2.50 in February skyrockets past $70 on a short squeeze for no fundamental or logical reason. Which means that when fundamentals to mean something, look out below.
Logic? We don’t need no stinkin’ logic.
For example, how many of my readers are aware of the “politically correct” investment instruments like VEGN which has doubled off its pandemic lows?
Of course a “traditional” ETF like VEGN(among many others) sparks opportunism for SPACs and other blind pool acquisition companies to raise money also with unicorn flatulent to inspire the masses:
I could keep posting the insanity on and on and on, but the young people say “investing has changed” and the older people keep warning to no avail so us “old guys” who have been burned and rewarded during cycles are now being dismissed as curmudgeons looking to ruin “the party” or whatever.
The truth is with every con, the world is being played, and Wall Street knows it. Need more proof?
This ultimate in bubbleicious news for the week is a new SPAC which is nothing more than another example of this insanity has picked the perfect symbol to sum up this speculative frenzy:
I guess if I could find a bunch of bored college students and teenagers and fleece them of their money, I would be laughing my ass off also.