Investors still can't believe the US markets are healthy and getting their swagger back.
This is mainly due to recency bias in my opinion.
Investors are still recovering from the financial crisis and still see Black Swans everywhere.
Most of us can relate to the idea of bubbles bursting because the fundamentals can't keep up with the optimism but this is a different kind of bubble where pessimism can't keep up with the fundamentals.
In other words the view of the markets is just too pessimistic to be true.
Many Investors are still fighting the last war and can't imagine we are in the early stages of a very impressive bull market.
This is an excellent time to enter the markets knowing that this degree of disbelief offers us a margin of safety.
Disclaimer
Please note I do this for my own addictive pleasure and to put my ideas on the line so that I can remind myself of how little I know.
As always conduct your own due diligence so you can demonstrate how little you know too.
