Ritchy Rich is wrong. It has happened before in good economic years.
I have to admit, I'm surprised considering how good the numbers are in our economy. I do expect it will come back hard, presuming the China deal gets finalized.
look at stocks like VZ and T right now. PE ratios of 5 and 6, dividends of 5ish and almost 7... Those companies have massively positive cash flow. There, just two examples of very strong healthy companies trading at historically super cheap valuations. But hey, that is boring when you can own a mail order catalog type company that sells stuff at a loss but has free shipping and trades at a pe ratio of 10000....
Insanity in the market..only lasts so long...
I was off by a year. I thought it was October of 86. Either way it was very similar to the market today. but interest rates were reversed. My first home mortgage was 30 years/15.2 percent in 1988. What ever the crowd does, I do the opposite. I bought a house and jumped in the market when everyone said don’t. I invested, refinanced, dollar cost averaged and didn’t sweat the irrational exuberance of “traders” and kept my day job.
Back then they told me it was Carter by a landslide; This time they all said it was Clinton for sure. I never listen to politicians, economists or meteorologists. They are the only people who can consistently be wrong and still get a paycheck. (LOL)
I’ve got some carbon futures for sale if anyones buying? (LOL)