agip wrote:
Ghost of Igloi wrote:
If you believe that valuations matter then all you have seen is the cycle extended by extreme monetary and fiscal policy. The downside gets greater and the damage is extended through a longer bear market. Of course this could be some virtuous cycle where even investing in the most ridiculous ideas, and there are many, is rewarded.
valuations matter
but clearly, obviously, incontrovertibly, evidentially, factually, provably, they aren't allthat matter.
if valuations were all that mattered, we'd have had negative real results since the early 90s instead one of the best 20 or 30 year periods ever for stock investing.
Come to think of it, Maser probably thinks we have had negative real results from the 90s onward. what's the actual inflation rate maser? Just want to keep you warmed up and in the conversation.
And for pete's sake Igy man, you've been in this game for generations...you know better than to point at one or two weird corners of the investing world and extrapolate to the entire market.
It is pretty clear on a variety of metrics this is the most speculative stock market ever. The fact that there are mostly deniers argues to the extent of investor mania.