Markets often seems irrational to me. Irrationality has always been real because of human behaviour. I would not say I always been right, but…
When I see this kind of chart I am always wondering if only sky is the limit
For example Bitcoin
Chart is less impressive in log scale
Another one : Ethereum
One of the funniest point is JP Morgan telling Bitcoin has an intrinsec value. This is something difficult to understand to me !
On stock side : Tesla
NB : I am not saying it is a bad company, I am talking about valuation.
About the markets, I am also dubious.
When I notice the global views from analysts (despite SP500 high valuation) expecting higher levels end year (as usual) and the bullish indicator topping, I have a bit fear.
If history is our guide
It is why I really prefer to play the value. May be a day value will skyrocket (Gold, Silver, etc.) and when it will happen I will wonder if it will be realistic of I will have to go out ASAP.
For the moment gold, silver, commodities are low compared to stocks.
The above chart is from a great article from Crescat : https://www.crescat.net/december-research-letter/
As summary : Gold, silver mining companies are still very low valuated (despite last run) and some are going to provide a very good (huge) return especially if the money is flowing out bubbles to find a safe heaven.
Do not hesitate to contact me if you would like a good gold stock idea