Wall Street’s speculative frenzy is even crazier than it seems
Bitcoin’s more than 200% surge in 2020 is just the latest sign of irrational exuberance
20 December 2020 - 21:35
Animal spirits are famously running wild across Wall Street, but crunch the numbers and this bull market is even crazier than it seems.
Global stocks are now worth about $100-trillion. American companies have raised a record $175bn in public listings. About $3-trillion of corporate bonds are trading with negative yields...
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