Friday, November 20, 2015

A Bubble In Overpriced Yuppy Shit

Bob Pisani:
"Guess how much the market was down last week, 3%. Guess how much it's up this week, 3%"
"This market is on fire"
"Best week of the year"

aka. Unchanged year over year. They've bought this level 28 times (days)...

Now led by consumer discretionary aka. things yuppies buy

"By the end there was a Starbucks on every corner, but then everyone realized at the same time that they don't need to pay $5 for a cup of coffee..."

$8 cappuccinos are up 1800% since 2009:

"And they didn't need $150 running shoes that cost $7 to make..."

And they don't need more really cheap junk...