This has really been the theme of market talk over the last several weeks: People are obsessed with this idea that we must be in a new bubble.
Dan Greenhaus of BTIG shares the latest anecdotes:
It seems there’s no escaping it. This weekend, the WSJ is at it again, both in A Return to Internet Mania? and Is This a Bubble? while the Financial Times asks Is the Fed Brewing Up Bubble Trouble? Anecdotally this weekend, several people this weekend at non-work related functions asked some form of the question “How does this market keep going up?” We understand the infatuation; after all, S&P 500 is up (10%) in nine of the last eleven weeks while its year to date gain is more than 26% even as the economy plods along at a sub-attractive rate and the unemployment rate remains annoyingly elevated.
No idea what this actually means for the market, but it is interesting how much this meme is taking hold.
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