Fleckenstein, absurd stock prices, och Kenyes "The market can stay irrational longer than you can stay solvent"
Bill Fleckenstein says that stock valuations have risen to absurd levels on the back of low interest rates
"But that doesn't really matter. Overvaluation, no matter how gargantuan, does not make stocks go down.".
Still, once the decline comes—watch out.
"The fact of the matter is that overvaluation doesn't make stocks go down. It just increases the risk of how far they can go down once they start going down," Fleckenstein said ominously.
CNBC 25 March 2014
- The market can stay irrational longer than you can stay solvent, Keynes.
internetional.se/shares.htm#news
"But that doesn't really matter. Overvaluation, no matter how gargantuan, does not make stocks go down.".
Still, once the decline comes—watch out.
"The fact of the matter is that overvaluation doesn't make stocks go down. It just increases the risk of how far they can go down once they start going down," Fleckenstein said ominously.
CNBC 25 March 2014
- The market can stay irrational longer than you can stay solvent, Keynes.
internetional.se/shares.htm#news
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