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Notes -
It's not just the returns, it's the consistency of the returns that allows TQQQ to flourish. I'm not going to look up the prospectus again right now, but the returns of TQQQ vary massively by volatility. The lower the volatility, the greater the returns.
The elimination of the business cycle by the Federal Reserve and Keynesian stimulus have let leveraged speculators flourish.
This is one way in which low interest rates have contributed to excess return for TQQQ investors.
The other way is simply that low yielding bonds are such shitty investments that people chase returns and drive up the price of speculative investments such as QQQ, Bitcoin, wine, art, baseball cards, homes. Okay, pretty much everything.
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