from Zero Hedge
It’s not just former Fed economists who are getting worried. So is Goldman.
As we wrote last weekend, “With “Stock Valuations At Extremes” Goldman’s Clients Are Asking Just One Question“, namely how much longer can the rally continue. This followed another Goldman warning from two weeks ago, where as we noted before, “Goldman Warns Of A Sharp Plunge In Stocks In “Next Few Months.”
[…] Who knows: maybe Goldman will be right and the market will plunge – it certainly isn’t trading at all time highs and 25x GAAP multiples on fundamentals. But for now those who heeded Goldman’s warning and traded ahead of a 10% “pullback” have gotten crushed.