A consequence of u.s qe. Many ratio and index need to rebase.

If the uptrend continue, the herd is likely to join.

In behaviour economic, bull run (e.g gold, kv property) is sustained by the herd. Except those exit early, most if not all herd members will end up worse off than the beginning.

When obasan, students and amateurs become gold fingers and agent actively investing mean peak price is near.

I am only a student, studying herd behaviour, economic data are my assignment.

Investing near peak mean heightened risks. During stock bullrun, company earning may not collerated to stock price.