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The Generals and a $30 trillion Retreat - Fat Tail Daily
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The Generals and a $30 trillion Retreat - Fat Tail Daily
We must be getting close to the end of one thing…and the beginning of something else. The thing whose end is nigh is the bubble on Wall Street. As a bubble inflates, the lightest, lowest quality stocks float to the top. That is what happened in the bubble of ’99.. The serious companies in the Dow rose 25% that year. But the flakier firms in the Nasdaq went up 85%. The emptier…and goofier…they are, the pricier they become. There is probably a ‘re…
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