Have you ever heard those who are trying to make a bullish argument say “there’s a lot of money on the sidelines?”
Well, how about this…
“There’s a large amount of money on sidelines waiting for investment opportunities; this should be felt in market when “cheerful sentiment is more firmly intrenched (sic).” Economists point out that banks and insurance companies “never before had so much money lying idle.”
-August 28:, 1930
Let’s chalk it up to there’s nothing new under the sun.
HT: The Big Picture