The conventional wisdom seems to be that investors are motivated primarily by two emotions: greed and fear. But I've seen a third factor as well.
The Senate finally made a deal to take the government into December. But the negotiation path beyond that point is nebulous, leaving us all in limbo.
For public equity investors, SPAC stocks can be interesting private equity type investments. And for their sponsors, this can be extremely lucrative.
Wall Street loves the slogan "TINA" for "there is no alternative" to stocks in a zero-rate world. But investors know better than to chase bubbles.