Stock Market View

It doesn’t make sense but bull markets do not end due to overvaluation. They generally end with interest rates rising more than moderately, a decline in the money supply or a recession which we don’t yet have. But, we now have short and long term cycles that are issuing strong warnings. Take a look at the past and note the similarities with the market today. Dangerous market tops are usually accompanied by overvaluation. Caution is warranted. Yet, we still find so many stocks that are incredibly undervalued. For example, many gold and silver mining stocks are very cheap.

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