It's a storied bar on the top floor of the Mark Hopkins, one of the most renowned hotels on Nob Hill, one of the highest places in San Francisco. Many people spend a lot of money there on food, drink, and dates in pursuit of the good life. It's one of those places that makes me glad to be a San Franciscan.
This is the top of the market - the stock market, that is:
It's a storied place where the DJIA and other indicators reach the highest possible valuation given current fundamentals. Many people spend a lot of money there on growth stocks, can't-miss plays, and great sell-side ideas in pursuit of the good life. It's one of those places that makes me glad to be a contrarian investor.
I'm calling the peak of this sputtering bull market right about now. It may not be obvious for a few more weeks, but hey, I'll go out on a limb.
