Feb. 24th, 2015: Federal Reserve via ZH
"New (junk bond) deals continue to show signs of weak underwriting terms and heightened leverage that are close to levels preceding the financial crisis."
Mission O'Complished.
Overdosed dopium junkies visualized i.e. Junk bonds:
CNBC: Feb. 22, 2015
Nasdaq 5000: This time is different?
"Are we in another bubble? It's certainly possible"
"Say what you will about the hefty losses recorded by companies going public today..." ???
"If the Federal Reserve raises rates, or the economy shows signs of strain, or investors lose their appetite for risk, what happens to all those money-losing businesses that were counting on heavy doses of future financing to keep the lights on? The result will surely be painful,.."
The main difference between now and Y2K, is that today, profits as a % of GDP are at all time record high and 2.5x higher than they were 15 years ago, making any (P/E) valuation comparisons between then and now, wholly specious. Of course that doesn't stop the psychopaths from making them.
Introducing "Box". This one goes to "11"
Box lost $165 million on sales of $192 million i.e. they sell dollar bills for fourteen cents. They have 1.5 years of cash left at the current burn rate. The market's price/sales ratio is 1.83, for Box it's 11.
The European version of this widely embraced delusion
Stoxx600 European stock market composite. How pathetic is this shit?
Y2K[Dotcom] x 2008[Lehman] x 1998[LTCM] = $Everything
Fools fooling themselves.
