The miraculous market recovery continued into the third quarter, pushing equity markets into positive territory on the year. Much of this rise can be attributed to mega-cap tech companies, which benefited from shelter-in-place and work-from-home trends. However, rising prices have stretched the market valuation to 20-year highs. In our Fall Presentation “Flirting with Euphoria,” we detail the reasons behind the dramatic recovery, and contrast it with poor economic data.
2020 Nelson Roberts Fall Presentation: “Flirting with Euphoria”
Asset Management, Investment Themes, The Economy October 26, 2020