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Who is buying at these levels? This market is just a bigger version of Bitcoin and when this bursts, it is not going to be pretty. This is simply stupid.
Can you help answer these questions from other members on NexusFi?
Do you mean it’s stupid as in “euphoric” stupid or just plain wrong stupid?
Because euphoria implies that people’s realities about the markets valuations are skewed. And eventually this skewed reality will come back into balance(the market will find a level that holds a bid). Now in the case that everyone is just plain wrong stupid, that implies that all forward looking expectations on earnings and economic growth are wrong. And in that case some external event is likely to come forth during the markets correction(ie China finally reporting negative economic growth), further deepening the sell off.