The High Fliers Have Cratered; Now Margin Debt Is At All-Time Peak/GDP Ratio, But Rolling Over

The last two times when margin debt reversed and fell after a record-breaking spike, all hell broke loose. In 2000, it was simultaneous. In 2007, it was delayed by a few months. Today, on the surface, everything is still hunky-dory. but beneath the surface, parts of the stock market are already coming unglued, and holders of momentum stocks have been eviscerated.....
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