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No. of Recommendations: 1
Stock market optimism among professional investors just keeps on surging, and is now at the highest levels since before the crash of 1987.

This time is different. Investors are sitting on literally $$$$$ Trillions in digitally conjured cash courtesy of the Fed's QE, ZIRP and Operation Twist activities over the last 9 years. All that cash is burning a hole in their pockets and FOMO (fear of missing out) ensures that the rush into stocks can continue unabated for years without depleting the available investment funds.

There's literally no place else for all that money to go - except, perhaps, into Bitcoin or luxury real estate.

People are retiring in the US at the rate of 10,000 per day. At least some percentage of new retirees are are either sitting on savings or else have liquidated or matured bond positions which they will re-deploy in equities as an alternative to bonds in a rising interest rate environment.

Simultaneously with all the cash sloshing around the system, companies are buying back shares and reducing the supply of equities available for retirees to buy.

Unlike 1986/1987, there is a massive oversupply of money looking for a home at the very same time that there is a continuing undersupply of shares of stock available for purchase.

This time really is different.

Unless and until, of course, some Black Swan descends upon us all.

=:-o
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