Stock Rally That Nobody Saw Coming Is Refusing to Go Quietly

Among investors surprised when the S&P 500 jumped more than 10% over 11 sessions through Tuesday were hedge funds.

Getting louder on Wall Street is the drumbeat of warnings over a bear market trap. 

At 20 times profit, the S&P 500 trades at a valuation multiple that before the 2020 pandemic had been seen only once in the past two decades -- during the dot-com era. Meanwhile, the cushion from corporate profits is thinning out. 

Bloomberg 1 april 2022

https://www.bloomberg.com/news/articles/2022-04-01/stock-rally-that-nobody-saw-coming-is-refusing-to-go-quietly


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