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Wednesday, 3 June 2020

Stocks levitate (bear market rally)

Stock valuations

The dreadful news from America keeps on coming, as we're all seeing on our news screens. 

The US economy has gone severely into reverse, effectively pushing total US stock valuations to the highest level in history, largely driven by the big tech stocks. 

There's a lot of hopeful talk of a new paradigm, but in reality an objective view suggests that this has every single characteristic of a bear market rally.