If fundamentals like profits and sales no longer matter, then all that’s left is faith that central banks will never let stock markets fall ever again. Is this the chart of a healthy stock market? The consensus view is either

Once market participants realize the top is in and the only possible result from here on is a loss, the herd will turn and follow the leaders who are selling. A funny thing happens when the stock market herd turns–all

Once market participants realize the top is in and the only possible result from here on is a loss, the herd will turn and follow the leaders who are selling. A funny thing happens when the stock market herd turns–all

‘The stock market is rigged. When I started making that claim years ago — and provided solid evidence — people scoffed. Some called it a conspiracy theory, tinfoil hats and that sort of stuff. Most […]

History is rather unkind to blind faith in central banks, just as the rising U.S. dollar and stagnant sales are being very unkind to corporate profits. The quasi-religious faith that central banks can push stock markets ever higher regardless of