“This Is Nuts” – Why One Asset Manager Reduced Risk On Friday

“…No longer is the market hostage to the real economy or sales and profit growth – stuff I have spent four decades analyzing. Instead, liquidity is seen as an overriding influence, actually it has become the sine quo non.

As such, historical valuations become increasingly irrelevant, and price momentum is the lodestar.”

https://www.zerohedge.com/markets/nuts-why-one-asset-manager-reduced-risk-friday