by Graham Summers
While CNBC and other perma-bulls claim that the stock market is a great investment today, the smart money is already prepping for a disaster.
Goldman Sachs has told its clients to “sell at the new high.”
Credit Suisse just told its clients stocks “haven’t looked this worrisome since the tech bubble.”
They’re correct. Stocks are in a bubble by virtually every reasonable metric.
According to CAPE, stocks have only been more expensive relative to earnings TWICE in history. Both of those situations were also massive bubbles.