I don't disagree with this, but there is a lot of money to be made because of it.
There are a lot of fanatical bears that hang around on sites like Zerohedge and convince themselves that everything is going to implode tomorrow. They hate Obama (and fiat currency) so much they can't imagine anything good could occur under his watch. Obama is indeed a terrible President, but he and Bernanke have been great for stocks. This market may be headed much higher still.
I think we can look at Europe and see that it is possible for debt ridden economies to kick the can down the road much longer than people assumed.
“This market may be headed much higher still.”
I appreciate your entire post, and this one line in particular is encouraging to me as it implies there may still profits to be had.
Hopefully from now on I’ll take my cue from what the market - and the market only - is showing me.