Bill Bonner: Bitcoin at $10,000?

From Bill Bonner, Chairman, Bonner & Partners:

BALTIMORE – We live in an age of miracles. With some paradox and claptrap thrown in for good measure.

Over the last four years, almost all the stock market gains in the U.S. came from just five technology stocks – Facebook, Apple, Microsoft, Amazon, and Google.

Those five have tripled in value since 2012. In this year alone, they have gone up, on average, 25%.

The Big Five

What has the rest of the market done?

Owen Williams, via The Gloom, Boom & Doom Report editor Marc Faber, took these top five stocks out of the S&P 500. This left him with the S&P 495.

How well has it done since 2012?

Well, it’s up about 25%… or about 5% a year. The Big Five, meanwhile, rose 226% – or about nine times as much.

These

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