Monday, September 22, 2025

A Stock Market Melt Up and then a Crash?

Black Swan Manager Sees Huge Rally, Then 1929-Style Crash
https://www.wsj.com/finance/stocks/black-swan-manager-sees-huge-rally-then-1929-style-crash-f2d16c9b
Mark Spitznagel’s hedge fund has earned bonanzas when stock prices collapse. 

A stock market crash may be just around the corner
https://www.telegraph.co.uk/business/2025/09/18/a-stock-market-crash-may-be-just-around-the-corner/
We are in the early days of the final, frothy stage of a bull market.

US savers go all in on 'cult of equity'
https://www.reuters.com/markets/funds/us-savers-go-all-cult-equity-2025-09-22
U.S. pension funds and households have never held more equities as a share of their overall assets, by some measures, raising questions about whether the long-term shift towards stocks has run its course or whether investors have truly undergone a paradigm shift.


Investor Jean-Philippe Bouchaud: ‘The whole bull run is because of an influx of money’
https://www.ft.com/content/6f549890-c2a6-4823-a095-c8ea73f7e6bb