Markets Are Bubbly – The Economy, Not So Much
Not a Bubble? The equity markets have been driven by momentum and speculation these past few weeks, not by underlying business fundamentals. We had GameStop, followed by Silver, then Pot stocks, and now SPACs, all driven by retail. PE ratios are in the top 1% of their historical range. Junk bond yields are at all-time-record […]
Bubble Markets Display Bizarre Behavior
Right Before They Tumble Like the Dot.Com bubble of the late ‘90s, the typical signs of an approaching bubble bust were on full display in the equity markets last week (week ending January 29th). GameStop (GME) and other failing or troubled companies (AMC, Blackberry, Nokia, Bed Bath) have become the darlings of the WallStreetBets (WSB) […]