I don’t want to be a Grinch, but at Christmas, you tell the truth: everyone is bullish, and I can’t help but feel a bit concerned.
The current bull market, which began two years ago, has seen the broader US market rally by more than 50 per cent, while the tech-heavy NASDAQ is up more than 80 per cent, last week breaking the psychological 20,000-point milestone for the first time.
A healthy correction on the ASX and international markets post-Christmas would be a good thing for investors.Credit: Mayu Kanamori
Add to this the seasonal tendency for a “Santa rally”, and it’s starting to feel like things might be getting a little too jolly. And you don’t have to look far to find that irrational exuberance, really is all around.
Bananas stuck to walls are selling for $US6.2 million ($9.6 million), Tesla’s stock has doubled in less than two months, making Elon Musk........