Sentiment Delusion. In Feb of 2009 Smith Barney downgraded BOA after the stock had already cratered to $2. MSM was still saying the S&P was “over priced” after a 60% decline! I bought F for $1, BOA for $2.3 & Citigroup for $1.3. I had no cash left to buy more. Stock Market was 51% of GDP at that time.

Contrast this with December 2024. The market is 206% of GDP, it falls 3-4% & X & the MSM are touting “generational buying opportunity”. We live in a complete delusional simulation.