Mauldin published his 2021 market forecast in todays Thoughts from the Frontline https://www.mauldineconomics.com/frontlinethoughts/forecast-2021-the-stock-market
He uses a series of charts and graphs to display the market's currently high valuation--and not on just one valuation indicator. For example, Citi Research's Euphoric/Panic Index is at record levels well in excess of the 2000 tech bubble. I am not clear, however, how to properly incorporate the role of record low interest in the market ratios.
I found his comparative graphs of S&P 500 by decade from the 60's and his contrast to a dividend portfolio for the same period particularly interesting.
He is pretty much of the opinion that ETF Index investing has gone passé' and stock picking maybe better(?)
For retirees dependent on their portfolio, he strongly believes taking gains and moving to cash is desirable.
I know the phrase of Dirty Market Timer comes to mind but.....
Comments?
He uses a series of charts and graphs to display the market's currently high valuation--and not on just one valuation indicator. For example, Citi Research's Euphoric/Panic Index is at record levels well in excess of the 2000 tech bubble. I am not clear, however, how to properly incorporate the role of record low interest in the market ratios.
I found his comparative graphs of S&P 500 by decade from the 60's and his contrast to a dividend portfolio for the same period particularly interesting.
He is pretty much of the opinion that ETF Index investing has gone passé' and stock picking maybe better(?)
For retirees dependent on their portfolio, he strongly believes taking gains and moving to cash is desirable.
I know the phrase of Dirty Market Timer comes to mind but.....
Comments?
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