You can even hear it in the language of the markets, the tired old expressions of commodities like oil being an “Asset Class” and equities who can barely meet earnings as ripe for “Multiple Expansion” which is just a fancy term for, we know that based upon any fundamental analysis company A should not be trading at these levels, but if Wall Street has extra juice it can push up this dead in the water stock anyway!
The Retail Bag holder
Baupost’s Seth Klarman: the Fed has broken the stock market [Q4 Letter]
Baupost founder Seth Klarman told investors that the large amounts of stimulus that have been poured into the world's economies are masking the severity of the problems caused by COVID-19. Q4 2020 hedge fund letters, conferences and more In a letter seen by the