Don’t fear the bubble | Felix Salmon
“The word “bubble”, at least for me, is a loaded term, with a specific meaning. For one thing, it implies speculation: people buying an asset which is going up in price, just because they think they’re going to be able to sell it to a greater fool at a substantial profit. “
Hugh Hendry: Investing Amidst Crashes, China & Speculators | The Big Picture
“The bottom line with my reading is that I care very little what anyone thinks, but a lot about how they think. Are they consistently clear with their process? Do they have the objectivity I seek? Are they sharing, or selling? I can’t stress enough how beneficial it can be to absorb the experience of those types vs. the opposite, and hope in some way I am contributing to the good side.”
Short Side Of Long
“Bullish readings jumped by over 10% while bearish readings fell by 8%. Sentiment indicators job is to portray the mood and confidence of investment community.”
Capital Ideas Online > Bubbles and their aftermath
John Stuart Mill’s description of a bubble, by James Montier
James Surowiecki: Is There a Stock-Market Bubble? : The New Yorker
I can’t believe I’m watching this happen. People never learn.
“U.S. economy, the present looks very different from the past, which means that historical comparisons to the nineteen-fifties, let alone the thirties, tell us little. The four most dangerous words in investing may be “This time, it’s different.” But this time it is different.”
What Is Your Market Context? | The Big Picture
” The circumstances today do not have any exact parallel to prior years or cycles. A quote often attributed to Mark Twain* is that “History does not repeat itself, but it does rhyme.””
in which Downtown Josh Brown destroys the 1999 comparison | The Reformed Broker
Its not the argument that is the problem, its the attitude.
Posted from Diigo. The rest of my favorite links are here.