Credit Bubble

Will The Last Bear Please Turn Out The Lights

When BlackRock CEO Larry Fink grumbled about “way too much optimism” in the markets, he wasn’t kidding. An entire mindset is benchmarking today’s record metrics against the splendor of 2000 and 2007: not to warn, but to prove that this time it won’t end in tears.

NASDAQ 10,000 – Or Something

“Paranormal liquidity stimulus” leads to “paranormal activity” to deliver that “parabolic overshoot” in asset prices. And there is no bubble in sight, not even in the Nasdaq Biotech index, which is up a cool 375%. Money is once again growing on trees.

Small Investors Exuberant, Margin Debt And Risk Of Crash Soar

Small investors are having fun in the stock market again, after years of sitting out the most phenomenal rally. They’re leveraging up their portfolios. Margin debt is spiking beautifully. Alas, spiking margin debt has a nasty habit of ending in a crash. In one painful chart.

The Smart Money Quietly Abandons The Housing Market

National averages paper over gritty details on the ground and are a crummy indicator as to what is happening in specific metro areas. But even with this caveat, a national average suddenly sounded an alarm for the housing market: the smart money is bailing out.