We’re all taught that markets are efficient. Yes there are times of irrational exuberance, but we can’t know when those times are, so we should keep investing and weather the storm no matter what.
I’m really concerned right now about the state of the economy and markets in general. The FANG stocks (hence my leadoff pic of Zuckerberg), real estate, and especially bitcoin are really ebullient right now. I look around, and everything I see points to danger. Continue reading “FANG, Bitcoin, and the Housing Market All Point to an Irrational Market”