Thursday, stocks were higher yesterday and Jim Cramer calls investors stupid. A quote from the article, “Never underestimate the power of enthusiastic buyers who do not know what they’re doing,”
I am reminded of another famous investor who said, “Markets can stay irrational longer than you can stay solvent.” That's essentially what economist John Maynard Keynes said in the 1930's
Because stocks are over valued does not mean they can't go higher. Markets run on emotion not valuations. That theory works on both ends of a market run.