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Robinhood IPO Could Sound the Bell For the Market’s Top

edited July 4 in Other Investing
Provocative title from Randall Randal Forsyth’s Barron’s column this week. It’s a fascinating and lengthy look at current market conditions and investor psychology.

Brief excerpt:

“’Most investors also seem to view the stock market as a force of nature itself. They do not fully realize that they themselves, as a group, determine the level of the market,” Nobel laureate Robert Shiller wrote in his now-classic book Irrational Exuberance. “In short, the price level is driven to a certain extent by a self-fulfilling prophecy, based on similar hunches held by a vast cross-section of large and small investors and reinforced by news media that are often content to ratify this investor-induced conventional wisdom.”
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