Quote:
Originally Posted by chassis
There was a short interview on Bloomberg Radio Friday afternoon Eastern US time where the interviewee made the case that the bull market is real. Evidence given is the market's shrugging off recent "news", corona virus included. 2019 earnings reports are flowing in.
As an example, Subaru US had a record year for unit volume sales in 2019, 3% higher than 2018, in a market where most automakers were flat or down. The consumer is strong. Residential construction is strong. Raw commodity inputs are low and stable in the near term. I can go on.
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It sort of reminds of the dot com bubble. Just a little of good news the market will shoot up. The PE multiples are getting up there.