This is so spot on. These things work in a bull market and we’ve been in a bull market for arguably 15 years. In a bear market the distortions that were created over the previous years are reversed and usually to an extreme.

It’s somewhat notable that Tesla was up significantly overnight and closed the day down 2%.

I wonder if this is the beginning of a very lengthy period after which people will look back and wonder “what the hell was everyone thinking?”