"Retail has bought over +$100B of US stocks in the last month, the largest 1M buying on record"
"The current advance is youthful if counted from April 2025 but mature if counted from Oct 2022"
"Equities have been scaling new highs, but positioning while overweight is not yet stretched"
"The third quarter marks the first time that analysts have increased EPS estimates in aggregate during a quarter since Q4 2021"
"Households, in the aggregate, have a lot of cash on hand"
"While there may be a bubble, the moment everyone spots it may be the moment it is least likely to burst"
