by Jeff D. Opdyke
The Sovereign Investor
“So you love details and numbers,” my friend Christy asked me in a conversation last week.
“No. I love facts,” I replied. “I need facts to back up the assertions I make. I hate being in a position where I say ‘x’ and someone says that’s not right, and I have no proof to show that I’m right. So I go to great lengths to have those facts and to know my data is provably accurate.”
Thus, I can tell you without equivocation that the facts I have tell me a frightful story about the future direction of U.S. stocks.
We’re now at record levels on both the Dow Jones Industrial Average and the Standard & Poor’s 500 — records built atop unwarranted giddiness and held together by extreme optimism.