Insights
Equity Market Commentary - June 2020
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Takeaways & Key Expectations
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June 30, 2020
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Equity Market Commentary - June 2020 |
We think the risk is heightened in a certain group of technology stocks which feel “somewhat safe” right now. Yet with the NASDAQ trading at an all-time high P/E valuation, we think there is a bubble forming.
Greed pushes bubbles higher than expected, and the bigger the bubble, the more the pain.
However, stocks are definitely not universally in bubble territory. We continue to find plenty of reasonably-priced names, as was the case in the year 2000. Likewise, we expect there is less downside risk in this group than in the beloved technology names, echoing again the year 2000. This is what has worked in the past. So then why have so few others embraced it now?
Click on the PDF to read the full commentary.
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Head of Applied Equity Advisors Team
Applied Equity Advisors Team
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