As stocks repeatedly ripped to fresh highs, the finance intellegentsia spent the better part of 2013 wondering aloud whether or not we’re in a bubble.
The possible tech bubble redux got a lot of hype. But our own Joe Weisenthal argued that those saying we are “partying like it’s 1999” have “no recollection” of what the late ’90s were actually like.
Either way, people are pumped right now.
The Motley Fool’s Morgan Housel pointed us to CNN Money’s homepage, which he described as a “worrying sign of excitement.” He was speaking specifically of the “story about a guy turning $US1500 into $US1 million trading penny stocks.”
Any reader can’t help but see that and think, “That could be me!”
It may not have been intentional, but various elements in CNN Money’s homepage feels enthusiastic to a point that makes us feel a bit uneasy. Some highlights:
- “Dow jumps almost 150 points”
- Nasdaq, S&P 500, Gold, Oil… they’re all green.
- Trade free with E-Trade for 60 days!
- AIG, the company that almost brought down the entire financial system just a few years ago, “continues its amazing comeback.”
- “The economy is ready to burst out”
- “Google’s latest acquisition: military robots.”
- What to expect in 2014? A fist of cash punching through a brick wall, that’s what.
What could go wrong?
This comes days after Barron’s published its latest weekly print edition with this bullish cover: