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you don't seriously believe this do you?

we've had many instances in the past 20 years where the above was very clearly and obviously totally false...i mean, just 2 months ago you had businesses 70% of what they were today, some less than that, and the tweaks shifted over a few weeks...


Yeah, I actually do. If you run down a list of the Top 50 companies by market cap in the S&P 500 there are only two companies which are arguably "What are People Thinking?" Of course these two companies are Amazon and Netflix. Yet I would even argue that Amazon is fine; Netflix I'm not sure about.

Doesn't see ridiculous at all. Not like the run up to 2000. There will also be smaller companies that attract too much or too little fanfare; XYZ Corp. that is growing eyeballs at 40% rate doesn't mean the market is out of whack.

Also, no massive housing bubble and subprime ridiculousness this time around.

https://www.slickcharts.com/sp500

With regards of stocks going up and down 30% shortly after market corrections, this has occurred in markets since Warren Buffett was a wee tike. Very normal occurrence. Indeed, it should happen, right? Doesn't take much change in the long-term growth expectations of stocks to adjust the value up or down 25 percent.

...course, our kids are all doomed. All the WW2 guys are dead, our dumb generation took over, and the mindless idiots in the next are coming...

The Ox's bass line in Won't Get Fooled Again is superb. You can't stay in a funk if you listen to this:
https://www.youtube.com/watch?v=WX_96uKZ7yQ&list=PLTnhng...

And you can't beat the combination of Daltrey and Townshend for pure entertainment. Teenage Wasteland oh yeah:
https://www.youtube.com/watch?v=0YXkX9sZgL0&t=0s&ind...

The WW2 generation we will always owe a debt of gratitude but they're also a generation that has shown absolutely no desire or willingness to adjust entitlements one nickel. They treat entitlement reform like its Normandy Beach and kill anyone who wants to make even the most modest reforms.

WW2 did a superb job as youngsters when drafted but I don't give them as high marks for their voluntary actions as old folk. USA has transformed from a country in which the oldest was poorest to a nation in which the oldest are richest and yet so much government spending is directed to keeping 84 years-old geezers alive for three extra months.

This is the true rich vs. poor divide in America, imho.

Whichever generation actually reforms entitlements in the USA deserves to be labeled the Greatest Generation.

ET
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