“Surely this can’t go on forever“, asks a pensive Lou Rukeyser on New Year’s Ever 1999, to which a youthful Liz-Ann Sonders replies ever-exuberantly, “this is a magical environment for the stock market, for the year 2000, things look terrific.” The other guests in this wonderfully brief moment of deja vu from the peak of the previous bubble are just as cock-a-hoop, “the danger signs are still a ways off,” and none other than Laszlo Birinyi concludes, “the individual is flush with cash, and continues to be positive,” confirming once again that the money-on-the-sidelines fallacy is just that.
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/IZpXBES0PHY/story01.htm Tyler Durden