This is a very cyclical business.
Investors are waking up after years of somnolent money-making.
“We did not foresee the magnitude of the economic deceleration,” it said, starting the year out on the right foot.
Ugly long-term charts that Wall Street doesn’t want us to see. And now US stocks are infected too.
How the Corporate Debt Bubble Will Crush Stocks.
Forced selling in the once red-hot $1.3-trillion “leveraged loan” market.
“It now appears bike sharing is the stupidest business, but the smartest brains of China all tried to get in,” said Wu Shenghua, founder of one of the collapsed bike-share companies. “It really now seems ridiculous.”
Homebuilders, a bedraggled bunch, breathe a sigh of relief, but get crushed anyway.
And over the long term? It gets complicated, as they say.
Nasdaq down 24% already. Renaissance IPO ETF down 31%. But Uber and other unicorns plan record IPOs in 2019, à la dotcom-crash-debut in 2000.