Brian Levitt
👤 SpeakerAppearances Over Time
Podcast Appearances
Today's the top.
No, wait, wait, wait.
I didn't mean today.
Tomorrow's the top.
Like it's been too long, but it's- Well, that's the Minsky moment where people become so complacent that that becomes the risk.
The lack of fear itself becomes the biggest risk in the market.
They have.
They have.
They're selling stocks to the point that we made in the earlier chart.
They're selling stocks that have doubled or more.
Year to date.
Yeah.
All right.
Savita Subramanian, Bank of America.
Equity Quant Strategy Group, time to take profits.
This is, I think, the biggest research piece of the week.
I want to share some of what she said and get your reaction to it.
And we hate her, so you can say whatever you want.
The S&P 500 is up 11% year-to-date, multiples compressed to 21 from 22 times at the start of the year.
An earnings revision that trumped returns, especially in energy and tech, the two best-performing sectors.