Reported about 20 hours ago
Veteran hedge fund manager Doug Kass warns that January 2025 could mark a significant market peak for the S&P 500, drawing parallels with past market declines seen in 1973. He cites elevated P/E ratios, rising interest rates, and a lack of fiscal responsibility as key factors that could lead to a downturn, reflecting on historical trends from the 'Nifty Fifty' era. Kass predicts that the dominance of current tech stocks, dubbed the 'Magnificent Seven,' may also come to an end, similar to patterns observed in past decades.
Source: YAHOO