http://www.zerohedge.com/news/2013-05-11/only-thing-we-have-fear-lack-fear-itself
THE AUTHOR OF MODERN BUBBLES ALLEN GREENSPAN COINED THE PHRASE OR WAS FAMOUS FOR USING PHRASE IRRATIONAL EXUBERANCE..
THE AUTHOR OF MODERN BUBBLES ALLEN GREENSPAN COINED THE PHRASE OR WAS FAMOUS FOR USING PHRASE IRRATIONAL EXUBERANCE..
The Only Thing We Have To Fear Is The Lack Of Fear Itself"
Submitted by Tyler Durden on 05/11/2013 16:39 -0400
With NYSE margin debt at extremes once again,complacency at all-time highs, valuations (across equity and credit) frothy, and the cacophony of bullish consensus momentum chasers, it seems the anti-thesis of FDR's speech appears quite appropriate...
Extreme Sentiment - check!
Extreme Leverage - check!
Extreme Complacency - check!
Extreme Valuations - check!
(h/t @Not_Jim_Cramer)
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