An old saying sums it up: “All the world is crazy save thee and me, and even thou art a little crazy”. Attributed to Robert Owen in 1828. However, I recall learning it in Latin when in high school.
Veterans in both the financial and political markets are astounded by the excesses. Somewhat over a year ago, financial markets plunged straight down in the Wuhan Flu selling panic. And some 16 months later, straight up to unprecedented excitement and valuations.
The greatest “La La Land” in history.
