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Stock Markets Hit Record Highs But Is a Correction Coming?
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In his last appearance on What's Not Priced In, Greg Canavan discussed the Santa rally. Festivities have since dragged into the new year. At the start of December, Greg said this:
‘Everything is about probability. And I think the probability of the Fed or the Reserve Bank pulling off a soft landing when you’ve hiked rates so sharply is quite low. Betting on this rally to continue is a low-probability event.’
But the rally continued. Earlier this week, both the S&P 500 and our ASX 200 hit new all-time highs. What gives? And does Greg still think the rally continuing is a low-probability event? Yes. And this episode is all about why. Other topics discussed:
- Why US and ASX stocks are rallying
- Does the rally make sense?
- Investor sentiment is greedy and bullish
- Quality ASX stocks are trading at expensive forward multiples
- Why Domino’s Pizza is a warning for investors
- Struggling Aussie consumers belie ASX 200’s rally
- Boring stocks versus hype stocks
- Reading recommendations: Munger, Marks, Lynch
35 episodes
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