Sentiment has shifted and as per history boredom has given way to worry, worry has given way to fear – let’s see if panic kicks in. We are doubtful of a fully-fledged panic driven selling event but it could happen. The non-fundamental/non-earning ‘bubble’ basket has literally vomited all over itself – hopefully this spells the end of the loose money momentum driven speculation. This is not investing, this is hope based fantasizing.
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