FYI: Michael Hiltzik at the Los Angeles Times just did a thing on my Relentless Bid theory – and why people still talk about to this day, over three years after I first published it.
If anything, it’s become an even more satisfying explanation for the shortness and shallowness of corrections in the post-crisis era than it was back in 2014. This is because the wealth management industry has seen the pace of financial planning relationships and fee-based asset allocation portfolios accelerate in recent years.
I’ll send you over now to Hiltzik’s piece, hope you like it!
Have stocks reached ‘a permanently high plateau’? Or: Whatever happened to market corrections? (Los Angeles Times)
Regards,
Ted
http://thereformedbroker.com/2017/05/31/the-bid-endures/
