S&P500 will probably drop to about 1800 just on profit taking; what happens after that is anybody’s guess. The market is in the stratosphere, but it generally has to go up until the last short finally gives in, and then it tanks—and it has to tank sometime in the next year or so, corporate earnings are not going to be sustainable in the present political environment. (NB: don’t invest on the basis of my harebrained speculation here :> )
corporate earnings are not going to be sustainable in the present political environment
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Nothing harebrained about that at all. I think your comment makes perfect sense. The market was overheated and poised for a fall for numerous reasons, especially a toxic political environment that’s bad for business.
As Buffet has repeatedly said, be fearful when others are greedy.