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Contra Corner

The Mother of All Melt-Ups

This is getting hideous. As of the moment, the S&P 500 is trading at 24.7X LTM net income, the Russell 2000 have soared to 90X, Amazon to 198X and Netflix to 227X. It's just one rip-roaring melt-up and according to the casino's most servile weathervane, it's all because of booming earnings.


http://davidstockmanscontracorner.com/th...-melt-ups/