I tend to agree, overall the majority of stocks are all ‘growth’ stocks now where the investment return comes from the ponzi-esque more future buyers of the shares.
The only real question is over the long term, are there enough structure money flow into the system to maintain the float?
401K are feeding in, investors are feeding in, retirement plans are feeding in.
We talk about boomers retiring, but Millenials are even bigger. They’re feeding in, boomers are retiring, but the vast majority of the wealth is actually concentrated and that concentration isn’t going to drain their investments. The vast will drain their investments, but they have a pittance of the baby boomer wealth.
