S&P 500 futures up 0.8% but one hedge fund manager isn’t buying it

The US and China are making nice on rare earths and tariffs, which is the same thing we’ve been rallying on nearly every day since the spat broke out.

David Einhorn from Greenlight Capital isn’t buying it:

“This remains the most expensive market we have experienced, & we don’t see a better option than continuing to be cautious…. When the tide turns, it does so quickly & without warning. Even 25 years later, it’s still not clear why the internet bubble popped when it did. Our view is that it was due to the last buyer buying & the last short seller covering—a phenomenon that is very difficult to time.”

At some point it’s the Fed’s job to take away the punchbowl but they’re out to lunch and Congress is non-existent.

This article was written by Adam Button at investinglive.com.