In this week's Off the Cuff podcast, Chris and Charles discuss:
- Overly Complacent Markets
- Prices reflect expectations of eternal perfection
- Think Like a Criminal
- If you want to reap short-term profits in today's markets
- Manipulation Magnifies the Destructive Potential of Bubbles
- Makes them fall harder because systemic trust is eroded
In this week's podcast, Chris and Charles discuss the challenges of being fundamentals-driven analysts in today's bubblicious markets.
These are definitely trying times for those who appreciate math, reason, and inevitable outcomes. With the massive market interventions underway, the gap between what "should" happen (and even what "must" happen, or "will" happen) and what actually "is" happening is tremendous.
It's created a party that's been wilder and longer than anyone thought possible. And after a while, more and more of the wallflowers decide to kick off their shoes and join in the fun. If everyone's having a great time, why fight it?
Such is the siren song of bubbles. And therein lies their awful danger. They only burst after sucking in the maximum amount of participants.
So, as John Hussman recently opined, bubbles force you to make a choice: Look like an idiot now, or look like one later.
Chris and Charles pick "now" with no hesitation. It's not a popular choice, nor a fun one. But if you can help as many leave the party (or at least dance closer to the emergency exits) before the inferno of wealth destruction begins,
by kugscheese 
