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…