Michael Cembalest, chair of market and investment strategy at JPMorgan Asset Management, likes to periodically take aim at gloomy investment predictions
He cites not just permabears like Albert Edwards and Peter Schiff but even luminaries like George Soros
Cembalest himself allows that the stock market might actually be frothy at the moment.
“To be clear, investor sentiment is currently very bullish, leverage is elevated and markets are pricing in a lot of good news. I would not be surprised to see some kind of correction later this year. If history is any guide, the Armageddonists will pick that point in time to tell you that it’s going to get a whole lot worse,” he said.
Steve Goldstein MarketWatch 9 February 2024
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