The Central Bank Bull Market ended on January 26, 2018. The new bear market began the same day. It seems almost impossible to believe, but it was only nine trading days ago that the NASDAQ, the last holdout, was at its highest level in human history.
Where I spent the week……
Way back in 2014, I suggested shorting Rent-a-Center, partly because the chart was a disaster, and partly because the company was evil. In spite of a completely fake, propped-up-by-trillions bull market, RCII has lost the vast majority of its market cap since that post.
I didn’t really know what kinds of stuff RCII was pulling, so just out of the blue, I clicked the very first thing I saw to witness what kind of deal these guys were offering. So let’s say you wanted a laptop. Here’s what they offer:
Here’s the performance of General Electric during a time period in which trillions of dollars were thrown into the equity markets to keep them artificially propped up. And yet even in this totally fake, everything-goes-higher environment, GE sucks whale: