Stocks are almost back to where they were two years ago when they hit “peak happiness,” marking the highest levels of valuation, investor confidence, financial liquidity and risk appetites achieved during this decade-long bull market.
Strong credit markets and reduced recession fears have emboldened investors.
Unwelcome news such as the U.S.-Iran confrontation are mere gut checks and buying opportunities.
Can a market both be overheated in the short term but just warming up for a longer-running advance? We just might see.https://www.cnbc.com/2020/01/11/the-stock-market-has-not-been-this-richly-valued-or-avidly-loved-in-two-years.html