Friday, May 22, 2015 1:25 PM EDT
“This is the most hated rally in history”
“It isn’t a bubble because people think it’s a bubble”
“Everybody is bearish”
The above quotes, uttered constantly, are the biggest pile of fetid gorilla dung in recent memory. If you want to see how “hated” the rally is or how bearish “everyone” is, take a good, long drink of the XIV graph. This is the inverse ETF of the VIX, and a good way to think of it is this: it measures complacency. The stronger the chart, the more sedate, calm, mellow, and unworried people are. Here we have it:
So I think the more accurate reality is:
“This is the most beloved rally in history”
“History has proved no one knows it’s a bubble until after it’s burst”
“Nobody is bearish…………….except for Tim Knight”
This blog is not, and have never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural ...
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This blog is not, and have never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural observations or other odds and ends strike me as worth writing about. So I take absolutely no responsibility for the losses – or any credit for the gains – you may or may not make from reading this forum. Whether you lose your life savings or make a fortune is entirely up to you and your own skills/luck/fate.
Please note I am the principal of Tim Knight Organization, LLC, a California-registered investment adviser. The content of the postings and investment strategies and discussions provided herein do not necessarily reflect the views, opinions or policies of Tim Knight Organization, LLC and Tim Knight Organization, LLC makes no warranties regarding the accuracy of their content or their completeness.
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