Today with the "market" at all time highs you have to read between the lines. Adjusted for inflation the "market" is still 25% below its 2007 high. That's if you believe the guberments inflation numbers. Wall st. is a ponzi scheme. With slick come on's like PE values and return's vs bonds and the like. Fact is its just paper being traded and its "value" based solely on what someone else is willing to pay you for it. Or, more easily understood as The Greater Fool buyer.
The financial crises exposed what Wall St know, what the Federal Reserve knows, and what most of the sheepele don't understand, ITS ALL ABOUT LEVERAGE. When everyone is de-leveraging there is no growth. Everything today is artificial. From money printing to deficit spending the REAL economy is still broken yet the "market" keeps moving like everything is fix.
The game of the Federal Reserve, of the Government, and there sycophants in the trillion dollar financial service industry is to convince you, to cajole you, and even coercer you (its call financial repression..see link below) to CHASE these paper assets higher and higher SOOOOOOOOOOOOOO the banks, hedge funds, CAN UNLOAD trillions of $$$ of losses on the the mo mo's (that slang for momentum chasing bag-holding retail investors) then yank the easy/free money spigot leaving them, LIKE THE LAST THREE CRASHES...HOLDING THE friend'N bag. Not forgetting the fact that this current era of central bank policy is all about financing and monetizing government debt.
So go chase that hot stock, go gamble in the rigged game, the wolves on Wall St eagerly wait for you.
Financial Repression Back to Stay: Carmen M. Reinhart - Bloomberg