Turning points in price trends tend to occur just at the moment when the authorities and expert opinion dismiss the risks.
FT 1 June 2021
Cash has been trash for years but soon it may be the only haven for investors
Ten-year Treasuries morphed into the “risk” asset category several years ago. Stocks with valuations supported by low yields have entered the same category now, no matter the growth potential for 2021 and 2022.
Bill Gross FT 1 June 2021
But, as John Maynard Keynes observed, the problem with markets is that they can remain “irrational” longer than investors can stay solvent