"The market can stay irrational longer than you can stay solvent."
As documented in The Big Short, the guy who bet heavily on the mortgage crash didn't make as much as you would think, largely because the market was rigged.
The Federal Reserve dominates the bond market. The stock market is largely artificial due to the formerly illegal practice of stock buybacks combined with Congress shoveling money to the stocks they themselves own. Covid comes in, the economy tanks, and stocks soar. What's wrong with this picture?
"The market can stay irrational longer than you can stay solvent."
As documented in The Big Short, the guy who bet heavily on the mortgage crash didn't make as much as you would think, largely because the market was rigged.
The Federal Reserve dominates the bond market. The stock market is largely artificial due to the formerly illegal practice of stock buybacks combined with Congress shoveling money to the stocks they themselves own. Covid comes in, the economy tanks, and stocks soar. What's wrong with this picture?
Without going into the details of what you wrote, what happened during COVID was "free money".