Gee willikers, it sure will be nice when these flashing red sirens and brazen, blasting warning horns are actually heeded by anyone on the planet. This marvelous data is from our partner Current Market Valuation, and at this point the lunatics have taken over the asylum. Objective measures of the past SEVENTY-FIVE YEARS are absolutely screeching this market has never been more overpriced.
Warren Buffett Indicator: NEVER HIGHER:
Mean Reversion: MATCHES ALL MAJOR PRIOR PEAKS
Yield Spread: MATCHES PRIOR HIGH FROM 1981
Anyone such as myself who uses cold, rational objectivity to try to make decisions has pretty much lost their minds at this point. I have to take a certain amount of pity on the boys down at Elliott Wave International, whose text these days is so crammed with uncertainty, conditional statements, and shame that it’s really a bit pathetic. They declare “We will see.” Yeah, boys, true enough. You’re guaranteed to be correct on that one.
