April 7, 2014

Signs of a bear market

There are definitely speculative excesses in the market right now. I don’t think the whole market is in a bubble. But in biotech and some of the Internet stocks, there’s no question — we’ve certainly got bubble like symptoms. And the I.P.O. market looks like a bubble, and that’s serious, because that’s where the first signs of the bear market that started in 2000 began.

via http://www.nytimes.com/2014/03/30/business/in-some-ways-its-looking-like-1999-in-the-stock-market.html