Here's more anecdotal evidence that we are in a bull market.
A strong IPO market is one of my favorite bullish indicators, Facebook going public at this time is a very bullish sign. They don't do deals like this in slow or down markets.
Now comes word that the owner of the Empire State building has filed for an IPO. As Mark Thornton points out, skyscrapers become more valuable during the bull phase of the central bank business cycle manipulations. Thus, it makes complete sense for the Empire State owner to go public at this time.
I believe Thornton says the tallest ever skyscrapers are built during booms. We are in a depression.
ReplyDeleteI think major IPOs and companies repurchasing their shares occur during periods of high optimism, which the Bernanke's credit creation creates. If anything, now I would take profits on any speculative equities and buy stuff I need. That way regardless of inflation or a market reversal I physically own items I will use or consume.
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