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Don’t hitch your hopes to rising tech stock prices

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The Fearless Girl sculpture wearing a mask stands next to a large Christmas Tree lit up displayed in front of the New York Stock Exchange on December 06, 2020 in New York City.

Alexi Rosenfeld | Getty Images

It’s not often that celebrity home-buying sprees give me insights into the stock market.

However, when I read last Friday about Ellen DeGeneres’ purchase of a $49 million house in Montecito, California, I realized that this behavior helped me understand the current exuberant state of the stock market. 

It wasn’t that Ellen was throwing half of $100 million on a house. It was the example of how investors buy what they want, when they want it, at whatever price is necessary, that struck…



Source cnbc.com

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