……their financial well-being is based on illusion.
If you haven’t heard, rapper 50 Cent recently filled for bankruptcy. That is a few months after Forbes has estimated his net worth at around $155 Million. 50 Cent: I borrowed my bling and I’m not rich
Questioned by an attorney for the woman, Lastonia Leviston, the musician-actor denied owning many luxury items including expensive cars and flashy jewellery saying he rents, borrows and leases instead. “It’s a borrowed piece of jewellery from the jeweller,” he told Leviston’s lawyer,
I am not sure who said it, but it’s true…..”You never really know how rich someone is until they file for bankruptcy”.
Anyway, just like 50 Cent’s prosperity was an illusion, so is today’s stock market valuations. Driven by market interventions, QE, zero interest rates, stock buybacks and speculative spirits. Once the tide goes out, and it most certainly will, that simple observation will be in the open for everyone to see. Again.
What Does Today’s Stock Market & 50 Cent Have In Common? Google