by David Chapman
[…] The most hated stock market rally in the world just keeps on going higher. Will anything stop it? Or do we now take our cue from Irving Fisher whose quote is above? Or is our cue from economists Carmen M. Reinhart & Kenneth S. Rogoff who wrote a book entitled, This Time is Different – Eight Centuries of Financial Folly? We can’t take our eyes off it. Or, it seems, take your money out of it. Assuming your money is in it as many investors are still sitting on a “mountain” of cash that’s under-invested.
After all, how is one to believe the stock market with upwards of 30 million unemployed, a pandemic still in progress, and riots and protests continuing on the streets against the backdrop of an extremely contentious, divisive election now just 64 days away. And dare we mention the hurricanes that hit the coast of Louisiana and Texas, along with wildfires in California causing billions in damage.