kingworldnews.com / February 22, 2017
With the Dow and Nasdaq hitting a series of new all-time highs recently, what is happening right now is madness.
Templeton’s Warning About The “Euphoria” Stage
Here is what Peter Boockvar wrote today as the world awaits the next round of monetary madness: “Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.” You likely have heard that quote before from John Templeton, an investing hero of mine. My prior boss, another great investor, often cited it and I felt that it was an important guide in gauging what stage of a bull market we are in. Sentiment is an unusual thing as its driven by emotion that separates itself many times from underlying reality both up and down. Considering the relentless, almost parabolic rally since the election as we approach the 8th year of this bull market that is nearing the longest ever, how can we not ask ourselves whether we are in the “euphoria” stage of this bull run…