I am starting to get straight-up bearish on the broader market. I know I have been skeptical of the stock market recovery since it began, but the recent surge in COVID cases and a flatlining in economic activity gives my current skepticism more of a backing The only thing holding up the equity markets at these seemingly unsustainable levels is the hope of another fiscal stimulus package, vaccine/treatment optimism, and a phrase that I’m sure we have all heard enough of: “don’t fight the Fed.”
For more color on the subject check out my most recent article: The Markets Can Remain Irrational Longer Than You Can Remain Solvent.
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