Time to Get Mad at the Market
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It was bearish early, but the markets haven’t seen much headway for a while. The final nail in the coffin for a bull market is merger and acquisition activity. The creation of credit and the hedging of risk does not represent a new paradigm, it represents a massive generational top in US stocks. Going forward, the only secure financial assets are those that do not carry a corresponding liability.
Hint: they are shiny and live in bank vaults. All the middle eastern markets have crashed and now that China has peaked out, a severe correction is in store. Look to the Asian markets today.