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Poor BeeVee. He's having a stroke by now on this one!!
Some were. Most that were based on earnings growth (like Nvidia) were not really overpriced. Still, anything with a 0-PE whose price was going through the roof was dot-com territory, for sure.*Beekeeper » 13 minutes ago » wrote: ↑ I have to totally disagree. The PE ratios were so far out of whack that the market needed to correct as it has. Right now, you need to see slow, stable growth, not the Bidenomics "dump money into the economy causing inflation" approach. And the markets were reflecting that money dump that many large Corporations took and make massive profits with, MOSTLY due TO that inflation.
Right now, I expect 45,000 in 9-10 months with slower, but more sustainable growth. And with little to no inflation, and whatever little there is, it will be manageable.
No, don't blame the last 6 months of 2024 on Biden! He wasn't dumping much money into anything at that point. The market actually stagnated over summer until traders realized that Trump was going to win. Then, BOOM, it took off in the last part of 2024. Still, at the end of 2023 and beginning of 2024, tech was driving everything. Nvidia made big leaps in its GPU offerings, as well as software and other hardware. AI was all the rage. This wasn't about Biden.
As for what is going to happen in 9-10 months from now? I've heard everything from a 10-year Japanese-style Bear, to a Trump's claim that America will enter its "Golden Era". It will all depend on 2 things. Ukraine and the Middle East wars coming to an end, and tensions between US and China calming down substantially. Trump needs to show us some wins. So far, economically, he doesn't have any. No one is going to wait around for 10 months for Trump to get his first economic win. We will lose the Senate and the House by then. If that happens, Trump will be impeached and he's done.