Expensive But Not Overvalued

Published on
January 23rd, 2020
39 minutes

Canadian Banks: “The Anchor That Drags Your Whole Portfolio Down”

Expensive But Not Overvalued

Investment Ideas ·
Featuring Michael Kantrowitz

Published on: January 23rd, 2020 • Duration: 39 minutes

Michael Kantrowitz, chief investment strategist at Cornerstone Macro, returns to Real Vision to articulate his stock market outlook for 2020. Noting ultra-low interest rates, narrow credit spreads, and a record-low level of cyclicality in the S&P 500, Kantrowitz argues that while the stock market is certainly expensive, it may not necessarily be overvalued. He recommends a balanced approach that favors value stocks over growth, cyclical over non-cyclical, and domestic over foreign. Filmed on January 21, 2020 in New York.