Sunday, August 07, 2016

The Craziest Thing One Market Veteran 
Has Ever Seen In His Lifetime
"A lot of people obviously believe that these central bankers know what they are doing. Look at the pricing of the world’s bond markets — it’s insane. It’s more insane than anything we’ve ever seen. It’s more insane the dotcom Mania. It’s more insane than anything. You are guaranteed to lose money but you are buying the asset because you think in the interim, between when you bought it and you get your guaranteed loss, you’re going to make some money by selling the asset to another fool. Or you cannot afford not to participate, even though you think it’s crazy. One way or another, it’s the craziest thing I’ve seen in my lifetime. I think it’s the craziest thing in financial history, and it’s probably the craziest thing anyone is ever going to see."
- Bill Fleckenstein
link here to the reference

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