The Bid Endures

Michael Hiltzik at the Los Angeles Times just did a thing on my Relentless Bid theory – and why people still talk about to this day, over three years after I first published it.

If anything, it’s become an even more satisfying explanation for the shortness and shallowness of corrections in the post-crisis era than it was back in 2014. This is because the wealth management industry has seen the pace of financial planning relationships and fee-based asset allocation portfolios accelerate in recent years.

I’ll send you over now to Hiltzik’s piece, hope you like it!

Have stocks reached ‘a permanently high plateau’? Or: Whatever happened to market corrections? (Los Angeles Times)

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