Crumbling fundamentals in both the short term & long
Wednesday, February 26, 2014, 8:21 PM
According to the stock markets in the US and in Europe, the world’s economy is not just in good shape, but is in the best shape it’s ever been.
The S&P 500 hit an intraday new record high of 1858.71 on Feb 24, 2014, and is now 18.6% above the peak it hit in 2007, a moment everybody now recognizes was heavily overvalued.
A nearly 19% gain above the prior all time high is an enormous and unusual event. Surely there must be an equally compelling story and loads of fundamental data to support such a bull market? » Read more