I keep waiting for the correction but it appears the market is not bound to reality anymore and its probably been like that for a while.
Don't be like these fools who allowed their TDS to cloud their judgement, losing tons of money as a result:
How Warren Buffett bet against the ‘Trump trade’ — and lost spectacularlyNov. 8, 2024Buffett has been selling stocks like Bank of America and even market darling Apple, if you haven’t noticed, hoarding more than $300 billion cash and cash equivalents (T-bills) because he said tax rates were going higher, and he expected stocks to crater.
Now that the possibility of Trump winning has turned into a reality,
the famed Oracle of Omaha is looking more like the Knucklehead from Nebraska, some of these traders say. Sure, shares of his holding company Berkshire Hathaway were up with the rest of the market after Wednesday’s massive Wall Street, but
think of all the money he left on the table by sitting in as much low-yielding, short-dated treasuries as the Fed, and not having his cash in the roaring S&P.https://nypost.com/2024/11/08/business/how-warren-buffett-bet-against-the-trump-trade-and-lost/Billionaire George Soros reportedly lost nearly $1 billion during Trump rallyJanuary 12, 2017Billionaire George Soros
lost nearly $1 billion after the stock market surged following Donald Trump 's unexpected Nov. 8 election victory, The Wall Street Journal reported.
The hedge-fund manager's former deputy, Stanley Druckenmiller, however, foresaw the rally and gained a sizable profit, the Journal reported, citing people close to the matter.
The sources told the Journal
Soros was cautious about the market going into the election and became bearish after Trump won.
Stocks and Treasury yields jumped in the wake of Trump's victory, amid the prospects of looser regulations in certain sectors, lower tax rates, and fiscal stimulus.
Soros' hedge fund, Soros Fund Management, manages about $30 billion for Soros and his family. Soros was a supporter oof Hillary Clinton's campaign.
http://finance.yahoo.com/news/billionaire-george-soros-reportedly-lost-134916493.htmlMillennials bought leveraged gold ETFs after Trump was elected and got hammered: NYSE traderDecember 19, 2016Bloomberg reports they piled into gold ETFs, some with leverage, after the election,
expecting Trump to trigger a risk-selloff. The opposite occurred and gold has dropped nearly 15% from the election-night high.
http://finance.yahoo.com/video/millennials-bought-leveraged-gold-etfs-183454148.html