Asset AllocatorDec 6 2024

‘Are we in a bubble, or are US stocks just incredibly expensive?’

George Lagarias

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‘Are we in a bubble, or are US stocks just incredibly expensive?’ — © Getty ImagesThe South Sea bubble ruined many investors, but at least these days portfolio managers don’t have to worry about being tied to a wheel and beaten

In 1928 Charles Merrill, convinced that equity valuations were exorbitant, divested many of Merrill Lynch’s holdings just before the Great Depression and sent a letter to investors to do the same.

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‘Are we in a bubble, or are US stocks just incredibly expensive?’

Read the full story with a free account

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