The "same policies that saved the economy and markets from catastrophe in 2020 are now causing the cycle to age in dog (Doge?) years," according to Leuthold's chief investment officer. Looking at the size of great trades today, the stock market is in its own Steroids Era, CIO Doug Ramsey says. The $1B that Quantum Fund made in one day shorting the pound in 1992 or John Paulson's $4B in subprime winnings would get eye-rolls from crypto traders where a Shibu Inu (SHIB-USD) position hit $8.7B from $8K in two months, Ramsey writes in a note. But because this economic cycle is considered very young historically, market strategists and economists are comfortable recommending heavy allocation to risk assets, he says. Policymakers deserve credit for starting a new economic cycle or continuing a record-long expansion with a big external shock, depending on your view, but extra-loose policies are now causing the
