As the Fed Pumps, the Stock Market Is Increasingly the Only Game in Town
While the economic storm caused by COVID-19 has seemed to wane (temporarily?), the stock market can’t seem to go but one direction—up. Graham and Dodd’s meaty 700-page Security Analysis has soared to number 7695 on the Amazon best-seller list. According to Warren Buffett, the book is “A road map for investing that I have now been following for 57 years.”
One wonders what roadmap the young people who saw the pandemic March meltdown as an opportunity to buy slices of familiar technology stocks are following?
CNBC reports, “The major online brokers — Charles Schwab, TD Ameritrade, Etrade and Robinhood — saw new accounts grow as much as 170% in the first quarter, when stocks experienced the fastest bear market and the worst first quarter in history.”
What company shares was the shoeshine boy recommending?
Who knew a person can now buy partial shares of Amazon, Tesla, and other modern unicorns? If nothing else, Wall Street thinks outside
Article from Mises Wire