While central bankers [4], asset-gatherers, and TV 'personalities' [5] remain nonchalant of stocks being in a bubble, some are positively vociferous over the manipulated mania US investors are currently re-experiencing [6]. Until the last few months, the new dot-com bubble had been quietly hidden behind the walls of the private equity world (as we noted here) [7], but as the following chart shows, the bankers have found a willing audience for 'stories' and 'spin' as the percentage of firms IPOing with negative earnings soars to its highest since Feb 2000... that didn't end well and we suspect "peak-greater-fool" won't this time either.
[8]
h/t Bloomberg and Sentiment Trader [9]