The tweet was deleted by the author.
But we saved everything 🙂.
Stock market sentiment is drawing comparisons to historic declarations of sustained, elevated price levels.
Mike Bird notes that current stock prices evoke the famous claim that they have reached what looks like a permanently high plateau. The reference highlights prevailing optimism in equity markets.
The current wave of optimism recalls earlier debates over whether shifts in investor confidence represent substantive change or mere market rotation—a question examined when Mike Bird challenged prevailing assumptions about market rotation and the limitations of relying solely on public listings for financial success. Additionally, historical parallels can be found in past periods of economic expansion, such as Bird's analysis of how aircraft manufacturers underperformed the broader market during wartime growth, underscoring the complexities that often underlie periods of seemingly unshakable market confidence.