Leon Coopermann stated we are in the bottom of the 9th inning of this AI bull market. Citing a quote from Warren Buffet in the late 90’s before the first tech crash:
““Once a bull market gets under way, and once you reach the point where everybody has made money no matter what system he or she followed, a crowd is attracted into the game that is responding not to interest rates and profits but simply to the fact that it seems a mistake to be out of stocks,”
The Buffet indicator – ratio of US stock market to GDP has far exceeded its overvalued threshold of 217%.
Hope you got your shorts in this summer!

Leave a comment