The dangers of a stock market melt-up: ""We're in a bull market, and I think it can continue for the next few years," he said in an interview last week. But what's striking about his perspective is that while he remains a steadfast market bull, he finds himself increasingly preoccupied by a cloud on the horizon: the growing complacency of his fellow investors.
They keep bidding prices higher and higher, with a speed and consistency that troubles him. In a word, he is worried that we may hurtling into a trajectory that cannot be sustained—what he calls a market "melt-up.""
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