Speaking of Bears

This is one interesting read and I particularly like when they describe the bears as, "The word “bear” brings to mind an irrational, angry creature that lashes out at anything in its path. Of course, like their animal counterparts, some bears can be very wild indeed. The most excitable bears are not so much polar as bipolar. They dabble in conspiracy theories and talk of the collapse of civilisation and the need for investors to sell all paper assets, buy gold and retreat to Idaho. But bulls can be overenthusiastic too, talking of new eras in which asset prices will reach undreamed-of heights (remember the book “Dow 36,000”?). Over the past 20 years it has been the repeated interventions of central banks to rescue bulls, not bears, that have contributed to the current mess by encouraging too much risk-taking."

View full article here from the Economist.