So True Today!

Remarks made by J. Paul Getty concerning the overvaluation for the 1965 market.  One year later the market peaked and went on a bear market (after inflation) lasting until 1982!

J. Paul Getty Quote!

Stock Market - "For as long as I can remember, veteran businessmen and investors - I among them - have been warning about the dangers of irrational stock speculation and hammering away at the theme that stock certificates are deeds of ownership and not betting slips.

The professional investor has no choice but to sit by quietly while the mob has its day, until enthusiasm or panic of the speculators and non-professionals has been spent. He is not impatient, nor is he even in a very great hurry, for he is an investor, not a gambler or a speculator. 

There are no safeguards that can protect the emotional investor from himself."

DYI:  As of 5-6-2026 the dividend for the S&P 500 is 1.05% (VOO) this is ground breaking level never seen before since the inception of the index!  Compare this to long term investment grade long term corporate bonds (VCLT) yielding 5.87%!  The yield difference is now 459% greater!  Market participants are not just expecting higher prices they are demanding prices to propel higher and faster than dividend increases!

When will this house of cards collapse?? I don’t know.  Don’t be surprised one day when the NYSE fails to open up on time due severe order imbalances to the downside.  A 5,000 point drop in one day is not out of the question for the Dow Jones Industrial average.