‘Will the Fed spend trillion of dollars, every year, forever to support the market?’ asks billionaire Howard Marks
“How do people feel about buying securities that are high only because the Fed is buying?”
USAGOLD note: His first question begets another question: What happens if it doesn’t? As for the second question, who said anything about investing in the stock market for value, or based on the fundamentals. Most are simply along for the ride.
Repost from 6-24-2020