Nest Eggs?
'Great Time to Turn a Nest Egg into Scrambled Eggs
by Wolf Richter • Sep 16, 2020 • 114 Comments
It just looks so tempting.'
. . .
'The US stock market is ridiculously overvalued, though it has recently been through a little bit of a selloff, particularly among the biggest names in tech, or so-called tech, that are down between 8% and 13%, and in Tesla’s case by about 25%, from their peaks just a few days ago. They’re very fragile – after the enormous run-up they’ve had. Many of those stocks, if they dropped 50%, would still be enormously overvalued. If Tesla dropped 90% from its all-time peak, it would still be overvalued.
. . .
The idea that stocks can only go up is nonsense. This is the most treacherous investment environment I’ve ever seen. There is a good chance that the US stock market ten years from now will look like some of the stock markets I listed earlier, meaning way down from its peak in 2020. There is nothing easier, in this environment, than turning your hard-earned nest egg into scrambled eggs.'
[DJIA down 245 points today]
= new reply since forum marked as read
