Comparing the 2018 Melt Up to the 1999 Bubble

“‘Melt Up’ Rally Propels Dow Above 26,000 as Fear Turns to Greed” proclaimed The Wall Street Journal this morning. The headline comes as optimism in our weekly sentiment survey is staying at an unusually high level. Even outside of the office, more people have been bringing up the market’s run to me in conversations. The…