ECB Notes Irrational Exuberance in Equity Markets!
This is what the European Central Bank states in its recently released semi-annual “Financial Stability Review” report.
The ECB’s quote “Irrational Exuberance” reminds me of the quote by former Fed Chairman Alan Greenspan who also warned of “Irrational Exuberance” in the Stock Markets in 1996. Not long after Alan Greenspan’s spoken words, the Internet bubble burst.
According to my vision, at this point, I also believe that the Stock Markets are generally valued far too high and that you can wait for steep downtrends shortly.
When exactly?….. no one knows but I would say do not hesitate to take (partial) profits on your stock portfolio…Better Safe than Sorry!
By reading this article you are in any case already warned.