Unfortunately the stock market, or the market of many hamsters (some stupid, some not as stupid) is getting used to huge gains in days or weeks. Few of us remember the old days when stocks on average went up 5% one year, 2% the next, down 25%, then up 30%. It was only a decade ago. That's normal,... and mines ain't made in a day, week, month or year.
Parents are passing their money on to fools who are throwing their money at the market and initially making big gains, it doesn't last. The liquidity will blow off eventually when all their money is gone. The professionals and the value guys will take the money and get richer. The stock market drop last August would have killed the economy if the central banks kept interest rates high,..good for us. Diamonds sales are at new highs. Clearly no one, including the bankers want to stiffle this boom.
I think we have many more years of boom before raging inflation clips the economies wings. That's a lot of diamonds to sell. When we do go up, it will be quick, probably based on higher than expected earnings. Anyone who has been to a CJ lecture in the last 7 months should know we are on the edge of that earnings increase. Some hamsters just need a two by four to the head to see it.
russett, the squished hamster. |
