Monday, August 21, 2017

Bull market since 2009 has ended

"Mr. Howard Marks of Oaktree Capital who’s gone on record to suggest that the “perpetual motion machine” that everyone has come to believe the stock market to be to the upside has ground to a halt.

We are indeed fearful… very… that this wondrous bull market that began in the spring of ‘09 has come to an end and we do not make this statement lightly for we know the damage that can be done to an already damaged reputation if this statement proves to be wrong.

But the monetary authorities who’ve sponsored this bull market with their massive injections of money borne out of the ether have begun the process of either standing down from that monetary expansionism or have at the very least chosen to slow the process… either of which shall be deleterious to equity."