by James Rickards
Daily Reckoning
There’s good evidence that the stock market is now in bubble territory. By some metrics, valuations are higher now than they were before the 1929 crash and are at a level second only to the dot-com crash of 2000.
Shorting the stock market can be like standing in front of an 18-wheeler going 80 miles-per-hour and yelling “Stop!” to keep it from going over a cliff.
You’re more likely to get run over than stop the wreck. Better just to watch and wait rather than fight the tape. Your turn will come.
Is there anything worse than a bubble? The answer is yes, and we found out last week what it was.