Surveillance: Recession Risk with Dudley (Podcast)
Bloomberg Surveillance
00:00
Investing in the Past Doesn't Move Stocks
Six months ago, there was a preponderance of negative optionality. Valuations were priced to perfection and very high by historic standards. The market is literally paul littered with an unprecedented accumulation of disasters. Even the perma bulls have materially lowered their s and p price targets. Investors have to to risk an begrossed. Stock valuations and economic profit expectations have been reset lower. Fear in the vix are rising. I now, if you saw the bank of america's bull a bare indicator yesterday, it's at zero out of 100, zero, not one out ofzer.
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