Last month, we reported on a Bank of America survey that indicated the mainstream has started to acknowledge that the stock market is a big, fat, ugly bubble.
The latest fund-manager survey by Bank of America Merrill Lynch found that a record 48% of investors say the US stock market is overvalued. Meanwhile, 16% of investors say they are taking on above-normal risk. BoA chief investment strategist Michael Hartnett called this ‘an indicator of irrational exuberance.’
Now, even the government has taken notice, acknowledging asset prices are floating in dangerous bubble territory.
The Office of Financial Research (OFR) recently released its 2017 Annual Report. According to its analysis, market risk is flashing red, with stock market valuations at historic highs based on several metrics.
This post was published at Schiffgold on DECEMBER 28, 2017.