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Feb 09
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AVOID
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Barry Bannister
Chief Equity Strategist at Stifel
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The speaker compares speculative tech and the broader market to the risks seen in 2001-2002, warning that current valuation multiples cannot be sustained. The economy is currently "K-shaped," where wealthy consumers drive spending. However, this wealth is entirely leveraged to the stock market. If the market "wobbles" due to high valuations and lack of Fed support, wealthy spending will dry up, removing the economy's only remaining leg of support. The speaker notes that the Fed is no longer the guaranteed "savior" of the market, creating a drag on asset prices that rely on high multiples. Continued resilience in consumer spending despite market volatility. |
CNBC
Bitcoin is not digital gold and behaves like ...
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