by Gregory Schaffer on Aug 22, 2017
According to widely used valuation metrics, the current stock market is more overvalued now than during most of the bull markets since 1900. However investors continue to maintain high exposures of risk to this very long bull market. 46% of money managers say the market is overvalued, yet the percentage who say they are overweight equities has remained unchanged. Weaker earnings in my opinion will be a catalyst to start the Bear market.