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Bill Fleckenstein is seeing signs of a bubble. S&P 500 up to 1,540.92, Dow up to 13,934.56, Nasdaq up to 2,690.85. [CNN]
Updated December 28, 2010 and originally published July 23, 2007. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.
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Luke Landes founded Consumerism Commentary in 2003 and has been building online communities since 1990. Luke, also known as Flexo, has contributed to PC World Magazine, US News, Forbes, and other publications. Read more about Luke and about Consumerism Commentary.
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I’m not a market guru, but I agree with Bill that the fundamentals underlying a bull market of this magnitude are missing. Some market signals show that we may be entering, or close to entering, a recession, yet the market continues to set records.
Only time will tell…
While there might be some merit to his arguments, you have to realize that Bill Fleckenstein has been predicting doom & gloom for the stock market for years. I stopped reading his columns because they all began to sound alike: “We’re due for a big crash, everyone else is ignoring the signs, I’m the only one smart enough to see it coming, etc.”
He’s started to sound to me like the boy who cried wolf too often.