Chart analogs may have stopped working in the internet era, every one has easy access to historic data and charts now. Back in '87 it seemed to have worked for PTJ, when hedge funds had to find the historic data themselves from old printed sources and enter into the computer by hand: Cued to start at the chart bit:
Since the time period that I started trading, almost every year, I've seen people compare a current chart to either 1929 or 1987.
My only fear, which is playing out, is that those who benefited and perpetuated all of this will be gone. The young people today cannot afford housing, and can't even start a family, and are told to work harder. The boomers with their inflated real estate and successful lives just need the suckers to keep paying for another decade or two so that they have a good retirement and all the access to healthcare they need. The same boomer fuckers in the government will keep printing to ensure they keep it together just long enough for the last one of them to die off. Once they are all gone, someone else will have to deal with the problems. I of course realize that nobody wants a huge inheritance tax, and nobody wants a real estate crash, but how else is the younger generation expected to have a good life themselves while also supporting the boomers? So much of future productivity and earnings have already been brought forward and spent. It needs to collapse now so that those who benefited the most can share in the pain.
Pepperidge Farm, remembers… when crypto and AI were introduced back in the era of Model Ts and 10% margin.
the 29 chart grew in about 7 years and the current chart took 15 years. Lower rate of growth recently.
Couldn’t have said it better!!! Pain today will be big but push it another decade or two and it will be Armageddon.