The SMI is at 10,000, the Dow Jones at 26,000 and it will soon reach 50,000. Le marché est parti pour monter de façon permanente et illimitée. Les taux d'intérêts ne vont plus jamais être augmentés parce que l'inflation a disparu. Grâce à ces politiques monétaires accommodantes, toutes les entreprises, même mal gérées, pourront réaliser de juteux bénéfices. L'uberisation va s'étendre à une multitude de nouveaux marchés, la biotechnologie va faire disparaître les cancers, l'obésité, le diabète et la maladie d'Alzheimer. La technologie block-chain va révolutionner nos économies. L'intelligence artificielle et la robotisation vont permettre de nous débarrasser des travaux pénibles et monotones, tout en créant de nouvelles richesses. L'impression 3D va bouleverser le monde de la production et la réalité virtuelle ouvrir de nouveaux horizons en matière de loisirs.
Thanks to driverless cars, we will be able to get drunk without the risk of accidents and without fear of having our licenses revoked. Thanks to advances in medicine, the repercussions of excessive alcohol consumption will no longer be a problem, in the short or long term. Hangovers and liver cirrhosis will have disappeared. The party will be permanent and the bars will be full all the time, like us. We will be able to smoke 3 packs a day and our lungs will still be immaculate. Despite all this debauchery, the next day, we will be able to work in great shape and produce even more wealth. What a blast!
Trump va éradiquer l'immigration. Les mexicains seront contraints de rester chez eux et ils pourront investir toute leur énergie de manière plus intelligente : produire de la drogue. Grace à cela les prix vont chuter et on va pouvoir en consommer tous les jours, dès le déjeuner, avec nos nootropiques et vitamines super-longévité. Sous perfusion de coke et d'autres produits de synthèse, notre cerveau va carburer de plus-belle, encourageant la créativité et la résolution de problèmes. Une multitude de génies et de prix Nobel vont voir ainsi le jour, initiant de nouvelles découvertes et créations majeures pour l'humanité, notamment un immense climatiseur posté sur la lune et pulvérisant de l'air polaire en direction de la terre, résolvant du même coup le réchauffement climatique.
Companies will trade at 100x earnings and still be considered cheap. Because this time it's different.
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Argh, damn, I didn't know that all the evils of the earth were going to be solved and that the shares were going to go up to the sky! It's a shame, I'm just in the process of liquidating some positions to be able to pay the notary, taxes, movers, etc. 🙂
What a bummer! Take out a consumer loan, get into debt and invest it all in Netflix, Tesla and bitcoin 😉
Sorry for this teasing but your message – to be taken with a pinch of salt I imagine – stems (perhaps?) from this passage: "The portfolio's performance in CHF painfully amounts to 3.33% during this first half of the year. It is therefore completely behind the market (SPI +19.5%, during the same period)" but it echoes some of my questions on the financial part.
Personally, I am increasingly uncomfortable with the valuation multiples concerning my growth stocks, with low rates influencing DCFs and peer valuations propelling these high-visibility stocks to the top. At the same time, being in the capitalization phase and only present on European markets (France in particular), it is difficult to sell. The last stocks sold (Sartorius Stedim Biotech or Robertet for example) have continued to soar. I still have a cash pocket of 12% after taking profits.
In fact, I sometimes feel like I'm speeding along at 150 km/h on a mountain road in the middle of fog with various dangers lurking at every turn (the Trump turn, the Central Banks turn, the demanding valuation levels turn, the end of the cycle or not turn, the debt turn, etc.) fearing going off the road at any moment, but hey, market timing is illusory, it seems... so I'm largely keeping my current positions and am always actively looking for new opportunities without stressing myself out either.
No worries, this is not a joke. Indeed, the two articles are of course linked and obviously it was tongue-in-cheek. Except, perhaps, for the air conditioner on the moon?
I like your analogy of the mountain road in the fog at 150 km/h. 🙂
Good idea this giant air conditioner on the Moon, I don't know if it will solve all the climate problems on its own but if you could direct it towards Europe next week by making it run at full speed, that would be nice 😉
To cool off, it is also possible to go directly to the Moon. Elon Musk offers the race for a few dollars...