Economists sound the alarm on valuations as stock market approaches bursting point
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THERE is no reason to believe that the global stock market will experience a major bust in the foreseeable future. The presence of a stock bubble, however, is crystal clear for all to see.
“Currently, we are going with the bullish flow, but we recognise the risk once (technical indicators) start to indicate deteriorating tape conditions and a worsening environment,” said strategists at research firm Ned Davis Research in a note to clients.
“We have yet to see the kind of excesses reached in 1999 and 2000, (which was) the culmination of the ‘irrational exuberance’ identified by (former US Federal Reserve chair) Alan Greenspan in 1996,” they added.
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