That’s stunning. Thanks. You’re awesome.
LOL . I don’t get that on here much :-)
BTW did you see the Chicago MSA housing start data on the other thread?
Agreed. Wyatt makes me think so much that I've had to over-clock my brain and ductape a cooling fan to my head.
Where’s all that excess capital from 1999 sitting?
Cash :-) ...look at the chart for cash held by banks.
Those numbers do make it seem like money was taken out of stocks and put into banks, but there's more. The high NTM P/E's of '99 does look definitely bullish for stocks in general and especially internet/biotech, the P/E change isn't because folks put their money in the banks. Those cash holdings that banks are sitting on is a bank management choice because deposits are just business as usual.
