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early February 2024 |
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early August 2025 |
Something smelly this way comes.
David Einhorn says we have reached the ‘Fartcoin’ stage of the market cycle
“Other than trading and speculation, it serves no other obvious purpose and fulfills no need that is not served elsewhere.”
A crypto token called “fartcoin” exploded in popularity as the re-election of Donald Trump unleashed a storm of animal spirits on Main Street. The meme coin is now edging towards a $2 billion market value, surpassing many U.S.-listed companies.
More meme coins have emerged since the inception of fartcoin. President Donald Trump launched $TRUMP, a meme coin built on the Solana platform. Its market cap over the weekend climbed past $14 billion. The coin at one point was down more than 20% over the past 24 hours, but it has since cut its losses to around 3%. Trump’s wife Melania also unveiled a coin.
https://fred.stlouisfed.org/series/TNWBSHNO
https://fred.stlouisfed.org/series/CURRCIR
Meanwhile all the gold and silver in the world hardly close the gap:
Wealthiest 10% own 93% of stock market...
The market capitalization of the S&P 500 on Dec 29, 2023 was about $42 trillion, each point of the index worth about $8.80535 billion.
8.80535 billion x 4,769.83 SPX 12/29/23 = 42,000 billion.
One share of VFIAX on 12/29 cost $439.99.
Price on 3/9/2009 was $62.66.
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http://www.advisorperspectives.com/dshort/commentaries/CAPE-at-Market-Peaks.php |