The view that the stock market is in a massive bubble is incorrect over the medium term. It is not bound to crash. So says professor and economic strategist Nouriel Roubini, also known as Dr Doom, argues this point.
For nearly two decades, esteemed economist Nouriel Roubini has worn the nickname “Dr. Doom” with honor. He earned it in the mid-2000s for warning of a housing crash that Wall Street dismissed, until he was proven catastrophically right.
https://finance.yahoo.com/news/dr-doom-nouriel-roubini-breaks-202457106.html
Read the above article to understand his reasoning. Sampler:
“The now common view that the U.S. stock market is in a massive bubble and bound to crash is incorrect over the medium term,” he wrote. On the other hand, what he predicted isn’t necessarily the rosiest. The near-term picture looks like a “growth recession,’ he said, meaning slower, below-potential GDP. It’s not the hard landing or 1970s-style stagflation many have predicted, and it isn’t a bubble popping, but it’s a lopsided economy, as many Wall Street analysts have also noticed.
https://finance.yahoo.com/news/dr-doom-nouriel-roubini-breaks-202457106.html
He calls this the Goldilocks scenario and says its his baseline: https://theedgemalaysia.com/node/784257.
Dr. Doom is NOW Dr. GOLDILOCKS. Lol.
For the record, Wall Street’s benchmark S&P 500 edged higher in choppy trading on Wednesday. A set of economic data bolstered expectations for an interest rate cut by the Federal Reserve. But, a slide in Microsoft’s shares kept a lid on gains. Dow 0.54%, S&P 500 0.22% and Nasdaq 0.09%
Thoughts of a Cynical Investor 