Englund

 Nasdaq 100 has recovered virtually all its lost ground from the bruising selloff in 2022. Tech stocks are far from bargains. Again, take Big Tech. With a total market cap at $11 trillion, the cohort trades at 35 times this year’s earnings.  Yet anyone mulling an exit should consider the fact that back in 2020, when the P/E ratio ended the year at 40, it proved no hurdle to share gains.  Lu Wang and Carly Wanna Bloomberg 16 juni 2023  https://www.bloomberg.com/news/articles/2023-06-16/defiant-stock-bulls-acting-like-the-earnings-recession-is-a-hoax Seven of the biggest constituents — Apple, Microsoft, Google owner Alphabet, Amazon, Nvidia, Tesla and Meta — have ripped higher, gaining between 40 per cent and 180 per cent this year.  The remaining 493 companies are, in aggregate, flat. https://englundmacro.blogspot.com/2023/06/the-performance-of-s-500-index-is-now.html

based on rising bond yields, stretched valuations and speculative behaviour by market participants. This may or may not be true. A market correction is certainly possible but any real threat to global financial stability will continue to be met with massive doses of monetary and fiscal stimulus. What worries me more is that debt in comparison to gross domestic product is now at record levels in the US, eurozone, UK, Japan and China.  Eric Knight FT 10 June 2021 https://www.ft.com/content/4f918e25-5947-4488-913d-5310191dc387

  Mattias Isaksson, chefsstrateg på Swedbank räknar med volatila börser både i USA och Sverige den närmaste tiden. SVD 13 maj 2021

Vi kan uppfattas som idioter - fools, men vi skall sälja till One More Fool.  Sedan skall vi köpa Buy the Dip och bli ändå rikare. Frågan bli I slutändan denna: Where is the one more fool when we really need him (or her)? https://englundmacro.blogspot.com/2021/03/for-varje-dag-som-gar-med-nollranta.html