Loading ...The greatest bull market of all time (non-PM)
Read this interesting article on ZH, and it reminded me that many great authors like Sir Rambus (if I remember correctly) have “forecast” more new highs in the bull market in the broader markets.
https://www.zerohedge.com/markets/why-there-literally-no-cash-sidelines
What does the Tent think?
GL
What’s your timeframe for that question?
And are we talking NOMINAL levels or REAL new highs?
Dow was at 1000 in 1966, and again in 1983 or so when it finally began making steady new all time highs.
But anyone who sat in the markets over that period was down 50 to 75% in purchasing power terms given double digit inflation in the 70s.
I have no doubt we’ll see dow 100,000 by 2050. And loaves of bread will be $20 each too.
Finally, my own crystal ball suspects we see fresh new LOWS before we see any ULTIMATE HIGHS for this cycle. TWT.
So the path higher looks …. suspenseful.
I meant nominal new highs.
In a nation where CPI if FUBAR’ed how can one ever know the real numbers?
Yes sitting out hurts, as the difference in the low in 2009 and the new nominal high reached today, tells.
So, yes, a scary dip now and I could be a buyer, potentially.
GL
Cash that isn’t between ASSETS is worthless – I do believe there is a minimum level of transient cash in the system but it’s NOT on the SIDELINES waiting for an opportunity. Thanks for the link, the “Equities as a % of Total Assets” chart is a real eye opener – the definition of pushing on a string.
BTW, on a cash related note – article about the Fed quietly moving a component of M2 into M1 – M1 is the most liquid and they moved “Savings Deposits” into that category.
Basically Savings Deposits are now (apparently) more liquid than they used to be. How do you reduce M1 from stratospheric levels – 1) you remove physical currency from the system and 2) you charge negative interest on newly added Savings Deposits – I’m not an expert by any means but to me this is just a moving of the goal posts to keep the wheels on (aka trust in the system).
https://goldseek.com/article/fed-about-go-weimar-gold-and-silver-will-soar
Credit G&S.com PM news aggregator (Jeff Clark).