Michel Pireu Columnist

We have entered the Wild West segment of the market cycle where anything goes. Anyone with a name seems to be raising a special-purpose acquisition company, retail traders think they are great investors for riding speculative stocks to the moon, and it appears as if everyone is super optimistic about stocks.

Do not take that as me being pessimistic because I am not, I am optimistic about the world slowly returning to normal in 2021. The market is obviously optimistic about a return to normalcy as well and has priced many stocks for explosive earnings growth. We will find out if this comes to fruition. Pump and dumps are alive and thriving again, and I anticipate this to become much wilder with the number of new “investors” that have been given a hit of fast money. There are many companies with valuations over $1bn that are most likely worth zero — be careful out there, the market will humble you. These are the negatives in the market; the positives are that we do not have to...

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