Looking Pricey

In what may be a surprising twist at the end of a strong year in the market, Boston Consulting Group found that fully 46% of investors were pessimistic about equity markets for the next year.  The reading is up from 32% a year ago, and just 19% in 2015.  As global equity benchmarks have rallied, more investors also see the market as too expensive.  Fully 68% of respondents said the equity market is “overvalued,” more than double the 29% of respondents who thought as much last year.  And nearly 80% of investors describing themselves as market bears cited “overvaluation” as the reason for their market pessimism, the survey found.

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