Let's wrap the week up, similar to the way we started it by stating the three big concerns for Bulls. 👇 Markets are: - Over levered - Over concentrated - Over overvalued While none of the aforementioned items are great at timing the market top, they are a stark warning to investors expecting outsized returns over the course of next year plus. Regarding the over leverage part, when we view Margin Debt by GDP, bulls definitely need to be cautious here! Many thanks for the chart, @hussmanjp ! Until I am back, have a wonderful and relaxing weekend!
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