Irrational exuberance in 2021, bear market in 2022?
- Markets are overvalued but financial bubbles can last a long time before bursting
- Investor confidence, supported by TINA and FOMO, will be hard to erode
- If the timing were similar to that of the internet bubble, the bear market would only start in 2022
- However, investors who wish to implement protection strategies should consider them now