Er vi ved afslutningen af en ny aktiemani?
Denne artikel fra Wall Street Journal beskriver vist ganske godt den situation, som vi befinder os i. Hvis denne situation er kendetegnende (og det frygter vi, at den er), så er vi midt i noget, vi har set før. Her er starten af artiklen (link nederst):
It’s not just about Libya. There’s another reason the stock market just took a hit. Everyone had become way too bullish and way too complacent.
Pride, as they say, goeth before a fall. When everyone’s bullish, who is left to come in?
We’re slap-bang in the middle of another mania.
How crazy have people become? Last week a portfolio manager I know told me about a conversation he’d just had with one of his clients. This manager runs a conservative practice. His clients are solid, sensible typessome old money, and some new money that thinks a bit like old money. One of his clients, a partner in a small private firm, had called him up and said, casually, that he and his partners were discussing this year’s bonus pool. “We’re thinking about putting it all in Apple stock for the year. What do you think?” he asked.
The portfolio manager thought the guy was kidding. “No, we’re serious,” the client replied.
“Why not?” he went on. “I mean, it’s not like Apple’s going to go down. It’s a sure thing.”
Yikes. You see this type of stuff when animal spirits are soaring.