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Author Topic: Money  (Read 8064 times)

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AGelbert

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Re: Money
« Reply #300 on: February 13, 2018, 06:06:59 pm »
Quote

It is the nature of organized investment markets, under the influence of purchasers largely ignorant of what they are buying and speculators who are more concerned with forecasting the next shift of market sentiment than with a reasonable estimate of future yield of capital - assets, that, when disillusion falls upon an over-optimistic and over-bought market, it should fall with sudden and catastrophic force. -  JM Keynes


James Montier : This Is A "Greater Fool Bubble" And I'm Getting Out

by Tyler Durden 

Tue, 02/13/2018 - 16:53

SNIPPET:

How does one explain the existence of this particular "greedy bear"? To Montier 🦋 the cognitive dissonance noted above is a function of the Fed-reflated bubble the US finds itself in: the near rational - or cynical - bubble, also known as the greater fool bubble. Here's Montier:

Quote
I am not a great fan of this nomenclature as it suggests a veneer of respectability that I find undeserved. To me  these are really better described as greater fool markets. They are cynical bubbles in that those 🦖 buying the asset in question donít really believe they are buying at fair price (or intrinsic value), but rather are buying because they 🦖 want to sell to someone else 🐵 at an even higher price before the bubble bursts. Chuck Prince 🦀, the former CEO of Citibank, aptly demonstrated the typical cynical bubble mentality when in July of 2007 he uttered those fateful words, ďAs long as the music is playing, youíve got to get up and dance. We are still dancing.Ē

Full article:

https://www.zerohedge.com/news/2018-02-13/james-montier-greater-fool-bubble-and-im-getting-out
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

 

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