"In the broadening top, five reversals are followed by 'sumamabitch!'"
Nevertheless, contrary to ubiquitous belief, record valuations can't be "priced in" at the end of the cycle when borrowed "earnings" turn back into a pumpkin, amid credit market collapse.
As it was in 2007, yield hungry pension managers are chasing recession off a cliff:
"The Citigroup chief executive told the Financial Times that the party would end at some point but there was so much liquidity it would not be disrupted by the turmoil in the US subprime mortgage market."
Although I still expect to retire on time aka. any day now.
As long as Roku doesn't roll over this will all be fine...