- First trading day of march – NASDAQ closed above 5000 for the first time in 15 years
- Each time the market goes up with crazy valuations, pundits say, “This time it’s different.”
- This time the Fed is under more pressure to create the illusion of prosperity
- Today’s rally came against the backdrop of weak economic data
- The only way this bubble won’t burst is if the Fed intervenes with more stimulus
- Bubbles force you to make an important decision:
- Look like a fool before they pop, or look like a fool after they pop
- It doesn’t matter how much money you make, it’s how much money you keep
