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In October 1929, Professor Irving Fisher of Yale University, a great guru of the markets, earned immortality with the pronouncement:
"stock prices have reached what looks like a permanently high plateau."
BBC 27/10 2004

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I believe US stocks are now very attractive for investors.
Jeremy Siegel, FT, 26/4 2007


This time is different
Don’t fret about soaring asset prices – this time is different
The probability of a rerun of what happened in the past decade is low
Wolfgang Munchau, Financial Times, December 29, 2013

Back in 2006 and 2007, commentators (including this one) warned about the rise in stock prices, housing credit and other forms of risky lending in several advanced economies.
House prices are rising again. Stock indices have broken records. Derivatives with three-letter acronyms are back. So are long-forgotten old favourites, such as the “cov-light” loan (don’t ask).
Should we be worried?
Not really.
This time really is different.

I do not mean that the world has entered a new phase allowing us to use silly arguments, such as a change in demography, to defend high and rising asset prices.

My point is a different one: if some of these bubbles burst, as they undoubtedly will,
I do not see similarly devastating effects as I did last time.

Full text

All-time-high house prices in 10 of top 50 US metro areas
Home prices have zipped back into record territory in a handful of American cities,
a milestone that comes seven years after the housing bust ravaged the market and the broader economy.
MarketWatch, Dec. 30, 2013


Världen har kommit in i en superkonjunktur
Det hävdar Charles Gave, som hör till ett läger av nationalekonomer som avfärdar alla varningar för depressioner och dödsspiraler.
Gunnar Örn, DI 2007-04-25

Till optimistlägret hör också Andrew McLaughlin, chefsekonom på Royal Bank of Scotland, och Anatole Kaletsky, tidigare finansredaktör på Financial Times och The Times.

"Lägre volatilitet är detsamma som lägre risk för konkurs och arbetslöshet, och det innebär att hushåll och företag i de rika länderna kan skuldsätta sig mer än tidigare."
Den finansiella revolutionen är den tredje beståndsdelen i superkonjunkturen. En stor mängd illikvida tillgångar, framför allt bostäder, håller på att förvandlats till likvida dito.

RE: But see also:
Anything is possible in financial markets, but the probability that the plunge in asset prices that began just a month ago could really be over after such a short time — and with so little damage being done to personal fortunes and financial institutions — must surely be very small. Much more likely is that any recovery that may or may not develop in the next day or two will turn out to be a “dead cat bounce” — in market parlance a brief and illusory rebound, whose main effect is to lure over-eager investors back into the market and then quickly deprive them of their wealth.
Anatole Kaletsky, The Times 15/6 2006


"Gardera med kryss och tvåa - grundtips etta"
USA är visserligen på väg in i en svagare konjunktur, men det mesta talar fortfarande för att det blir en mjuklandning.
Sverige har hittills haft strålande tider, som ser ut bestå ännu ett tag.
Den senaste tidens fall på Stockholmsbörsen ser därför ut att bli en övergående episod
Snart kommer det hela att mest likna ett hack i en uppåtgående kurva.
Johan Schück, DN 10/3 2007

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Strategists at 12 of the biggest Wall Street firms agree that U.S. stocks will rally next year (2007).
The last time Wall Street unanimously predicted an advance for the S&P 500, in 2001,
preceded a 33 percent slump over the next two years.
The U.S. economy fell into recession and the Sept. 11 attacks battered financial markets.
Bloomberg 18/12 2006

Full text


Proffset tror på Stockholm
DI 24/11 2006


Stockholmsbörsen stiger med 12 procent nästa år,
spår aktiestrategen Rolf Elgeti på ABN Amro.

Han ser inte några större risker för den svenska börsen 2007 men tycker att den svenska kronan rör sig överraskande mycket och det skulle i värsta fall, tillsammans med en högre ränta, kunna hota det positiva scenariot.
En övergång till euro skulle därför vara oerhört positivt för den svenska aktiemarknaden, enligt Rolf Elgeti.

EMU


Caveat Emptorby Lawrence Kudlow
Kudlow's Money Politic$, 23/3 2007


The optimists will be right until they are wrong.
Wolfgang Munchau, FT 11/12 2006


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