/perspectives/media/signs-of-irrational-exuberance

Signs of Irrational Exuberance

Scott Minerd, Chairman of Investments and Global CIO, joins Bloomberg TV on Fed Day to discuss global monetary policy and asset price volatility.

January 27, 2021

 

Key Takeaways:

  • Momentum trades by hedge funds and individual investors are creating perilous bubbles.
  • Long term investors should not treat valuation as a timing tool.
  • The market’s willingness to finance any transaction is cause for concern, as it was in the explosion in valuations in 1998.
  • The incoming head of the Securities and Exchange Commission may take steps to set new regulations to rein in excessive short trading.
  • The Fed will continue to signal its commitment to maintain orderly markets.

 


FEATURED PERSPECTIVES

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Our positive 2021 economic outlook, combined with better-than-expected company fundamentals, supports strong credit performance and spreads.

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Opportunities in Credit Amid Challenging Conditions

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October 22, 2020

In the Eye of the Storm

The relative calm we feel in the markets right now isn’t the end of the storm, it is just the eye.


VIDEO

Third Quarter Outlook 

Third Quarter 2020 Outlook

Brian Smedley, Head of Macroeconomic and Investment Research, and Portfolio Manager Steve Brown share their outlook for the third quarter 2020.

2020 Macro Themes 

Macro Themes for 2020

Brian Smedley, Head of Macroeconomic and Investment Research, discusses major trends likely to shape markets this year.







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