The stock market is being held up primarily by the passive bid—mechanical, algorithm-driven flows—and not by fundamental economic strength or earnings, meaning stock price movements have decoupled from business reality.
causalpending
Speaker
Bill FleensteinEvidence Quote
“there's this force holding the stock market up, all things being equal, unless the news gets ugly enough that can swamp that bid...but of course that has nothing to do with reality because it's dominated by the passive robot”
Source
Bill Fleckenstein: We've Gone Past The Point Of No Return, Only An Epic Crisis Can Fix— The Julia La Roche ShowCreated: 8/11/2026, 5:23:30 AM
My Notes
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