Meanwhile “the few” keep wondering why “the lot” keep believing we’re so screwed – terrified in part that when “they” finally realise “It’s a bull market, stupid” things could quickly erode into euphoric bubbles.
Broccoli is like the long-term, savings plan, pension-focused, wealthy later, don’t-buy-a-new-car-every-year diet. Unfortunately, you don’t often see the benefits for a while. In fact sometimes they seem invisible, because all those broccoli / long-term choices you made meant you never got diabetes or went bankrupt.
Investors are treating stock markets like they’ve boarded the wrong train and now they’re running along the corridor trying to get off as it pulls away.
Folks, still scared and scarred from 2008/09 are quick to close the shutters when the tough talk starts, and then batten down their investment hatches by running to bonds, gold and cash. Consensus thinking suggests that’s the smart thing to do. But is it?