"You could have made good money even with bad stock picks. It was like being invited to bet on black, without limits, at a roulette wheel on which 37 of the 38 pockets were black."Why waste time and energy educating yourself while sheer ignorance pays off so easily?"
"It would likely be some time until substantial further progress toward the Committee's maximum-employment and price-stability goals would be realized and that, consistent with the Committee's outcome-based guidance, asset purchases would continue at least at the current pace until then."
"We don't think that's the most likely outcome but we do have the tools to deal with that outcome. We will use them to guide inflation back to 2% if the need arises. In the most likely case, this period will show temporarily higher prices but not persistent inflation."
"That is the new investing world we live in. A world where individuals are getting investing 'expertise' from young individuals on social media with huge followings. It is effectively the 'blind leading the blind'."
"Margin debt is the 'gasoline', which drives markets higher as the leverage provides for the additional purchasing power of assets...Currently, the exuberance of investors is on full display. With a fresh round of 'stimmy' checks reloading bank accounts, margin debt as a%age of real disposable incomes has shot to record highs.