In my view, technology stocks, US especially are overvalued.
The technology sector must be supported sooner or later by the government, Ministry of Finance, Central Bank, as almost all other industries need very rarely temporary liquidity support -> banks, insurance, automotive companies in the US and Germany during the 2008-2009 Great Recession.
The stock market must be allowed to clear.
Otherwise, we will have no markets and we will have communism.
In communism, people waited for a car more than a year.
Not that in capitalism now, this strange phenomenon does not occur, which is hugely surprising.
Basically, almost all social systems like banks, medical care, police, the army etc. are fractional reserve systems, which means that analysis, planning is key. Good planning, however!
As 7 years plus as a risk manager, I can say everyone is a risk manager, everyone is playing the odds.
There is usually no right answer in complicated dynamic systems.
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