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Daily Wealth: Why I'm Certain the Meltdown Is Looming

March 15, 2021
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Article by Steve Sjuggerud in Daily Wealth

The Melt Up will end sometime this year.That's the big prediction I shared with DailyWealth readers last week. It's a major shift in opinion for me.

I've made a name for myself calling the Melt Up in recent years. I've been bullish and right. But I can't ignore what I see brewing in the markets right now.

Today, I'll share why I believe this major prediction is a near certainty.

What's happening today is simple... It's the Greater Fool Theory. Folks are hoping that by buying today, there will be a greater fool than them to pay a higher price tomorrow. But think about this for a second...

Right now, we've got multiple rock stars (and Elon Musk!) pushing Dogecoin – which the founder admitted was formed as a joke and should never be worth much.

Once Musk, Snoop Dogg, Gene Simmons, and all the kids in the local high school have put their money to work... where can the next greater fool possibly come from to drive prices higher?

"The single most dependable feature of the late stages of the great bubbles of history has been really crazy investor behavior, especially on the part of individuals," legendary investor Jeremy Grantham wrote earlier this year. "For the first 10 years of this bull market, which is the longest in history, we lacked such wild speculation. But now we have it. In record amounts."

That gets to the heart of it...

To me, what we're seeing now is "really crazy investor behavior, especially on the part of individuals."

The thing is, to make the most money, you want to buy when everyone is fearful and sell when everyone is greedy (to quote billionaire investor Warren Buffett). And right now, individual investors – many of whom are buying for the first time – are darn excited...

An astounding 28% of all Americans .....

To read this article in Daily Wealth in its entirety and see the relating stats, click here.

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