We’re in the unusual situation where fund managers almost uniformly say US stocks are overvalued, yet everyone is piling in. This disconnect, as the S&P 500 Index sets repeated all-time highs, is the market’s biggest vulnerability going forward.At the first sign of trouble — for example if tariffs do ultimately lift consumer prices and derail expectations for Federal Reserve interest-rate cuts — they’re liable to sell. And it’s a risk the market may have to contend with in the next few mont
www.bloomberg.com
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Everyone Says Equities Are Overvalued, So They’re Piling In
