The bull needs a reality check

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Via BofA at ZH:

We already discussed how current market euphoria has surpassed dot com levels, but what’s going now is absolutely staggering… and it’s only getting crazier with each passing day and new all time high.

Consider that in just the past 4 weeks there has been a record $115BN inflows into stocks, a record $25BN into EM stocks, a record $9BN outflows from gold…

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.