The market had a chance to correct itself; or worse, get into a depression (bear market). But that didn't happen. It suggests two things: 1- Either the market is not over-priced and these companies have strong revenues and fundamentals; or 2- The US dollar is discretely hyper-inflating and it's showing only on stocks and other similar assets at the moment.
Sure there is a chance that we are in a bubble (by the way, we have been saying that since 2010. That's over 10 years) but after Covid, I think that fundamentals have changed.
I think there's just nothing better to invest in right now, and wealthy people have a lot of capital. With things how they are in Hong Kong maybe there's even more capital flight out of China because they see the writing on the wall.
> I think there's just nothing better to invest in right now
I think this might be the biggest reason. With B&M falling like flies left and right, people are shifting their investments. I don't think it's limited to "wealthy people" either.
I'm sure the Fed's buying spree/inflation is a factor as well, however. Interesting times.
Sure there is a chance that we are in a bubble (by the way, we have been saying that since 2010. That's over 10 years) but after Covid, I think that fundamentals have changed.