One of the reasons I think the next downturn will be much quicker and more severe than the last is that I think people actually did learn a lesson from the last 3 years.
My opinion is that the market isnt "allowed" to go down much lately because anything that resembles a bonafide selloff or trend change is going to be sold hard by everyone, all at once.
But for now we are back to trying to justify AMZN at $18 Bln mkt cap in an economy that is slightly improving on massive increases in debt.
Let's all see how close the top we can time it. :)
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