By Tom Dyson in DailyWealth:
I spoke to a broker at Fidelity a few weeks ago. At the time, the stock market was rising almost every day. There was so much optimism in the marketplace it was almost surreal.
This broker spends all day on the phone taking stock orders from small investors. He told me his customers were shoveling their money into the market. "I have no idea where they're getting all this money from," he said. "But the volume is amazing."
The media urged investors on with a raft of bullish editorial. Barron's was probably the worst offender. Their most recent cover talks about...
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