Billionaire Sam Zell sees 'irrational exuberance' in the stock market and holds mostly cash The seemingly unstoppable stock market rally is based on emotions not fundamentals, Zell says. "I think the current situation seems like irrational exuberance," he argues. Zell says he does see a path to increased economic growth due to tax reform and deregulation. https://www.cnbc.com/2018/01/16/sam-zell-sees-irrational-exuberance-in-stocks-im-mostly-in-cash.html
Who is this guy? What is "Altaira Capital" ? Why is he so childish / naive ? Okay, that smells bad, when everyone calls himself "god of", time to get out ! CM
His timing is quite ugly. He should have been "bull" every time NDX was close to 50 days Moving Average, not after a 10 day extension. IMO, noobish mistake. Really noobish. And excited in his rocking chair? Seriously? Time to retire CM
Maybe he bought a bunch of weekly calls. That is the way to play this market, specially if he is still bullish.
The funniest part is when he says "energy is ready to break out" I wrote 3 months ago sector was ready to break out, and last week it was time to take profits. https://www.elitetrader.com/et/threads/energy-sector-buy.313313/#post-4582684 CM