Clearly Overdone! The Market Is All Air. Not A Fundamental In Sight… They Are Still Expensive!

h/t @michaellebowitz

The market is all air. Not a fundamental in sight

h/t @OccupyWisdom

The #economic “expansion” feels like a #depression because a depression is sub trend #GDP growth for a sustained period of time. The expansion has been below trend for the vast majority of the time.

#QE induced markets ignore this

Chart via @charliebilello

h/t @OccupyWisdom

h/t @Convertbond

The Big Issue When You Chase Momentum On Expensive Stocks Is You Cannot Discern Value Opportunities When They Fall…

… They Are Still Expensive#FANG

— Daniel Lacalle Official Account (@dlacalle_IA) July 30, 2018