“This will eventually end badly. I have never in my career seen anything as crazy as what’s going on right now.”

Interesting comments from the CIO of major investment firm not known as a permabear:

“We are either moving into a completely new paradigm, or the speculative energy in the market is incredibly out of control. I think it is the latter. I have said before that we have entered the silly season, but I stand corrected. We are in the ludicrous season.”

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