‘invincibility syndrome’ Dips continue to be bought
It can be harder to spot market tops than bottoms.
The latter usually come with signs of fundamental market stress and acute investor fear.
In contrast, “investor optimism can become a chronic condition. Equity summits are typically extended and marked by rotation as narratives across different styles and industry segments are pushed to exhaustion,”
But what might be the catalysts that causes the invincibility syndrome to crack?
Grant thinks that the current consensus among investors that only a recession can kill the bull market is wrong
“Today’s ‘invincibility syndrome’ implies that when financial markets change their mind, they can do so in a profound way,” he adds.
MarketWatch 18 October 2024
“the market can remain irrational longer than you can remain solvent.”
Interesting times when the Dipsellers emerge.
Ego på X 17 October 2024
Tillbaka till Wall Street och Stockholm 18 oktober 2024
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