I could cite plenty of metrics, but at some point, I expect we’ll see a drop in the S&P 500 in line with previous all-time high valuations… somewhere between 50% and 65%… and an even bigger drop for many individual stocks.
For the past decade-plus, growth stocks have been in charge. But, we know the pendulum is swinging today. Growth… value… growth. You can guess what comes next.
Investors in big tech are doing today what they’ve done for much of the past decade: assuming the next several years will look a lot like the recent past. Don’t expect it to last forever…