Bubble Bulls Mock New Marc Faber Warning - Mike Swanson (04/30/2015)
"For the last two years, I've been thinking that U.S. stocks are due for a correction," Faber said Wednesday on CNBC's new show "Trading Nation." "But I always say a bubble is a bubble, and if there's no correction, the market will go up, and one day it will go down, big time."
"The market is in a position where it's not just going to be a 10 percent correction. Maybe it first goes up a bit further, but when it comes, it will be 30 percent or 40 percent minimum!" Faber asserted.
"Look at the market since November of last year to now. The market is up 2 percent. It hasn't done much, and a lot of stocks are breaking down. I don't think that the market is in a healthy condition."
Bubble bulls though mocked Faber's warning to them.
In comments on this video bubble bulls proclaimed:
"Reminds me of the guy who bought $10 worth of lottery tickets every week for 20 years. He finally won $5, and said "I knew it would pay off!"
"Eventually I'm going to die. I don't know when but I'm going to die one day.. "
"The Bears base their predictions on a free market where buyers and sellers determine price and risk discovery. That's where they are wrong . . . "
"Blah, blah, blah. Of course the market will have corrections. These guys trying to guess when it will happen are just on ego trips. What the last 7 years tells us is that close to zero interest rates makes for a happy market and lots of profits for companies."
Bubble bulls simply will not be denied in their final gamble.
I know no bubble bulls that sold out at the top in 2007, but I do not lots of horrible stories from people who lost money during the crash of 2008.
And I have zero reason to think any bubble bulls will sell out at the top now either, because they have no game plan when it comes to investing except buy and believe forever.
And who knows maybe the market already has topped out.
BTW - the reason I call them bubble bulls is because they say that even though the stock market is overvalued from a historical standpoint that valuations do not matter anymore. They look at charts of market valuations such as the S&P 500 CAPE ratio and say so what this time is different "XXXX YOU! FOR SHOWING IT TO ME!"
They are NASTY people and crazed.
Now what I do know is that the bubble bulls are totally ignoring better investments to make right now and are putting themselves at incredible risk and they do not care - because they simply will not be denied in what will be their final gamble.
Margin maniacs are by there very definition maniacs.
Anyone on full margin in this market needs to go get counseling for a gambling addiction.
Now we are seeing fascinating gyrations in world markets and various assets classes.
Take a look at the German bond.
Take a look at China.
Take a look at gold.
Learn how to profit from the new trends coming by grabbing my Bear Market Power Pack.
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