• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

"Enthusiasm", "Greed" Or "Delusion" Phase?

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Tue, 03/05/2013 - 16:23 | 3301936 VulpisVulpis
VulpisVulpis's picture

The shnozberries taste like schnozberries

Tue, 03/05/2013 - 16:28 | 3301957 redpill
redpill's picture

 

I think we're in the "we dont know what's going to happen so we'll make up a neat chart with vague terminology that we will hopefully be able to fit the facts to later and retroactively make ourselves look like geniuses" phase.

 

Tue, 03/05/2013 - 16:31 | 3301975 Say What Again
Say What Again's picture

The Bernank is in the WTF -- LMAO phase.

Tue, 03/05/2013 - 16:34 | 3301984 MillionDollarBonus_
MillionDollarBonus_'s picture

 

Top ways to play the bull market:
  1. Index ETFs - Index ETFs are a simple way for everyday investors to get exposure to the major stock indices. ETFs are managed by proffessional investors, who ensure that when stocks go up, so does your investment.
  2. S&P Futures - Futures are another way to profit from the bull market in stocks. The benefit of futures, is that you can put down very little money, but still reap huge rewards due to "leverage". 
  3. Options - Investors who believe the market is going higher, can buy call options which will rise with the stock market. Just like futures, options have the benefit of costing very little but still allowing you to make a lot of money. 

 

Tue, 03/05/2013 - 16:37 | 3302013 Say What Again
Say What Again's picture

MDB,

Thank you for that great trading tip.

You obviously know a great deal about the market. 

Please let me know when you will be conducting your next seminar.  I will definitely be there.

Tue, 03/05/2013 - 16:41 | 3302031 redpill
redpill's picture

Next weekend at the airport Hilton, admission is only $59.99 per person (continental breakfast included).  What a small price to pay to save your retirement future!!!11

Tue, 03/05/2013 - 16:45 | 3302045 Spastica Rex
Spastica Rex's picture

A bargain at twice the price. He better not make the mistake of underpricing himself, you get what you pay for.

Tue, 03/05/2013 - 17:59 | 3302320 Fredo Corleone
Fredo Corleone's picture

If the implication is, that the public has entered the manic phase and is powering the Dow to new highs, then I reject the premise.

This is strictly an institutionally-driven algo fête. The public, to the extent that they have any investable funds remaining, are out of this game.

Tue, 03/05/2013 - 18:17 | 3302446 DeadFred
DeadFred's picture

Retail is gone and will never be seen again. The Hedgies are the new target. The squid sees their AUM and hungers.

Tue, 03/05/2013 - 18:48 | 3302595 BoNeSxxx
BoNeSxxx's picture

I am a little slow... I need a large 'you are here' star on this chart.  Like the kind they have at the malls and airports... 

Tue, 03/05/2013 - 21:48 | 3303234 Spirit Of Truth
Spirit Of Truth's picture

Surprised by a new all-time high in the DJIA, but the rally is running on Ben's anal fumes at this point IMHO:

http://thespiritoftruth.blogspot.com/2013/02/dow-14000-world-war-three.html

American mass psychology is a manic psychosis:

http://www.spiritoftruth.org/Thesis/Intro

Wed, 03/06/2013 - 03:11 | 3303965 All Risk No Reward
All Risk No Reward's picture

If by "institution" you mean private players leveraging the hell out of public money in order to blow the market up so the insiders can bail out at heretofor unbelievable stock market valuations, then I agree.

I'm sure there are a lot of bankster operatives working in pension funds to make sure their wealth gets transferred to the mega banks in the next market collapse as well.

Retail isn't dead, though.  There are still lots of establishment gobemouches that are in the market.

I told a coworker that taxes were going up, the budget was becoming a bigger issue, deficit spending would get hit and all those things indicate now would be a good time to start leaving the market.

She replied, "but it's all I have."

"That's why you need to protect it," I replied.

She's fully invested and just UPPED the amount she puts in here 401k.

She isn't the only one, she's the "normal" one.

Wed, 03/06/2013 - 03:59 | 3304005 dunce
dunce's picture

I disagree that the public is out of the game, they are along for the ride and can not get off so they will be part of the crash.

Tue, 03/05/2013 - 17:32 | 3302047 Say What Again
Say What Again's picture

I've been inside "the Hilton" before, but I had to pay way more than $59.95

Tue, 03/05/2013 - 17:43 | 3302252 thisandthat
thisandthat's picture

I thought it was free? At least that was the impression I got from a "promo" video some time ago...

Tue, 03/05/2013 - 16:47 | 3302054 ParkAveFlasher
ParkAveFlasher's picture

Do I have to attend the timeshare seminar that follows?  Because I'd like to bring an oven to stick my head into in that case.

Tue, 03/05/2013 - 16:56 | 3302095 redpill
redpill's picture

That one was cancelled, but they got a replacement!  Miyagi Fukdamuppets, author of "Rich Banker, Poor Banker," is giving a free* seminar about how high retail checking account fees are always worth paying.

 

*with $59.99 purchase of hard copy edition of "Rich Banker, Poor Banker" signed by Mr. Fukdamuppets himself!

Tue, 03/05/2013 - 16:53 | 3302085 cliffynator
cliffynator's picture

Hopefully, there will be an opportunity to sign up for the "real" classes at the seminar!

Wed, 03/06/2013 - 15:47 | 3305771 atm0sphere
atm0sphere's picture

free admission with a buy on Herbalife

Tue, 03/05/2013 - 16:57 | 3302096 Stock Tips Inve...
Stock Tips Investment's picture

Those are three good mechanisms to take advantage of this bull market. Depending on the amount of money a person has and the risk profile, you can choose any of them.

Tue, 03/05/2013 - 18:09 | 3302397 max2205
max2205's picture

The real fun hasn't even started if I go by that chart

Now buy spy in the money options every Monday till this blows up

Tue, 03/05/2013 - 17:36 | 3302236 thisandthat
thisandthat's picture

I once got an e-mail from a previously unknown Nigerian friend - he had a very attractive business proposal which he was willing to share with me for just a small entry fee - I think I really should get in touch with him (you know, for old times sake, I guess), after all, he's a friend, so what could go wrong, right?

Tue, 03/05/2013 - 19:28 | 3302753 mirac
mirac's picture

and what were you holding during the Flash Crash?

Tue, 03/05/2013 - 21:30 | 3303181 luckylogger
luckylogger's picture

I was short and loved every minute of it. I did get nervous because the quotes were wrong, however it goes down as one of my ten most fun and profitable days !!!!!!!!!!!!!

Bring on the flash crashes............. traders best friend.

 

Tue, 03/05/2013 - 23:15 | 3303557 stant
stant's picture

the muppets are a getin in the pot uh hotub but theres a short in the water heater

Wed, 03/06/2013 - 10:35 | 3304543 DoneThis2Long
DoneThis2Long's picture

Where is the:

" .... and if you call within the next 5 minutes we'll include a FREE, yes fols FREE, handy chart reading class. But hurry, quantities limited."

Plus, of course, the obligatory:

" .... but wait, there is more!!! We'll double the order for only $49.99 plus a small Shipping and Handling fee of just $39.99. Expedited shipping available!!!"

 

Tue, 03/05/2013 - 16:33 | 3301987 SheepDog-One
SheepDog-One's picture

Euphoria, delusion, bear trap, despair.....GEE they left out the part about surveilance drones and tanks and re-education camps??

Tue, 03/05/2013 - 16:35 | 3301994 redpill
redpill's picture

How about that x-axis!  "Time" - well that's fuckin specific guys!

Tue, 03/05/2013 - 16:36 | 3302007 SheepDog-One
SheepDog-One's picture

'Time'...yes, yes 'time, the avenger'.....I'm wondering where the 'suspension of disbelief' phase is myself, we've been in that for 10 years at least!

Tue, 03/05/2013 - 16:39 | 3302023 Shell Game
Shell Game's picture

No shit..  Looks to me like the graph ends March 2009 and we are waaay the fuck off the charts and into Twilight Zone, Bad=Good!, Control-feak fascism phase...

Tue, 03/05/2013 - 16:45 | 3302041 SheepDog-One
SheepDog-One's picture

Yep, this today is supposed to be the 'public phase'? As if retail investors are clamoring for stocks in a 'greed frenzy'? Bullshit, I've seen NO evidence of that anywhere. 

Where's the 'FED pumps with $100 billion a month' phase? Missing.

Tue, 03/05/2013 - 16:49 | 3302049 TruthInSunshine
TruthInSunshine's picture

Dow Reaches Record High, Spurred by Fed 
New York Times ‎-- 2 hours ago

What’s amazing about this bull market is that people still don’t think it’s real,” said Richard Bernstein, chief executive of Richard Bernstein Advisors, a money management firm. “We think this could be the biggest bull market of our careers.

 

How the Fed extricates itself is important,” said Mr. Bernstein, the money manager. “It could happen two, three, four, five years from now.”

 

In the meantime, he said, he remains confused about why more investors aren’t buying stocks. “I just don’t understand why people don’t want to play,” he said.

 

Derp-a-Derp

Tue, 03/05/2013 - 16:49 | 3302072 SheepDog-One
SheepDog-One's picture

I'd rather play Russian Roulette with a semi auto than play 'buy stawks' with the maniacal FED!

Didi mao! *smack* DIDI MAO!! You shoot NOW!!

Wed, 03/06/2013 - 04:15 | 3304017 mkhs
mkhs's picture

Does  it ever go to a second round?

Tue, 03/05/2013 - 16:53 | 3302083 redpill
redpill's picture

That article might put The Onion out of business.

Tue, 03/05/2013 - 17:17 | 3302171 Poor Grogman
Poor Grogman's picture

"I just don’t understand why people don’t want to play"

Then why not just ask them you retarded moron, deliberate blindness just isn't cool man...

Tue, 03/05/2013 - 17:18 | 3302174 resurger
resurger's picture

Ben Bernanke is the "Hero who saved the world"

Why everyone hates him?!

 

Tue, 03/05/2013 - 17:38 | 3302245 Winston Churchill
Winston Churchill's picture

According to that same source,Adolf did the same at Munich.

Tue, 03/05/2013 - 16:48 | 3302059 Ham-bone
Ham-bone's picture

nicely summed SG!

Tue, 03/05/2013 - 17:29 | 3302212 TBT or not TBT
TBT or not TBT's picture

The "external threat vilification" and "wartime austerity" phases are missing.

Tue, 03/05/2013 - 16:33 | 3301988 Shell Game
Shell Game's picture

Where's the 'ol permanent gold backwardation and emergence of new monetary paradigm phase? 

Tue, 03/05/2013 - 16:34 | 3301992 Winston Churchill
Winston Churchill's picture

No senile dementia stage ?

Seems the players in the 'market' have  early onset.

Wake me up when the is 1400.Then I will buy.

Tue, 03/05/2013 - 16:37 | 3302011 kaa1016
kaa1016's picture

Pull over. He can't pull over. He's already pulled over. Pull over further...The opening 5 minutes was the best part of that movie.

Tue, 03/05/2013 - 16:39 | 3302024 Buckaroo Banzai
Buckaroo Banzai's picture

Stop it. That movie was great all the way through.

Tue, 03/05/2013 - 16:38 | 3302018 Buckaroo Banzai
Buckaroo Banzai's picture

+1 for Super Troopers reference. "Hey Farva, what's that restaurant you like with all the shit on the walls?"

Tue, 03/05/2013 - 16:45 | 3302046 FL_Conservative
FL_Conservative's picture

....well two out of three ain't bad......

Tue, 03/05/2013 - 18:51 | 3302606 slaughterer
slaughterer's picture

Wait until the Fed reflates AAPL for the "new paradigm" phase.

Tue, 03/05/2013 - 16:24 | 3301940 SnobGobbler
SnobGobbler's picture

"bull trap"  Love that shit!

Tue, 03/05/2013 - 16:24 | 3301941 Theta_Burn
Theta_Burn's picture

Wheres the frontal labatomy phase?

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