Tommaso, i have (luckily i guess) never seen WS Week. however, i do watch CNBC, and have long ago come to the conclusion that the stock market has become some sort of entertainment business. what's more, the financial media are full of subtle and not-so-subtle propaganda aimed at keeping j6p's custom, i.e. keep him throwing money at stocks, no matter what.
while things are going well, this money feeds a lot of bull market parasites and helps to spread a warm and fuzzy feeling throughout the nation, as bull markets are always great happiness enhancers. and when things threaten to go bad, why, there has to be somebody that will be left holding the bag, no?
here is a very revealing graph of the 'smart money index' vs. the Dow: we have seen a massive (and successful) distribution effort since last Octobers lows, masterfully disguised as a big rally:
csf.colorado.edu
regards,
hb
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