Dangerously Overconfident: We’re In One of the Most Expensive Markets of all Time
August 28, 2020 at 17:07 PM EDT
By Roman Chuyan, CFA It’s one of the most expensive markets of all time, while the economy is one of the worst ever. The market prices-in a quick, V-shaped recovery with certainty, forgetting about risk. The stock market remains elevated, driven by Fed-induced liquidity and stimulus money funneled...