The Risk-Reward in the Stock Market Isn’t Looking Good, Warns Fund Manger Overseeing $16 billion

That’s Bryn Mawr Trust’s Jeffrey Mills, who oversees $16 billion in assets, talking to CNBC on Friday about what’s next for a stock market that is poised for declines to start the week…

“The liquidity injection that the Fed is introducing to the market is actually being tapered off,” Mills went on to say. “Stocks are discounting an environment that is not necessarily reflective of not only economic fundamentals, but earnings fundamentals.”

Mills said that using trailing price-to-earnings as a measure, valuations haven’t been this high since the tech bubble. In this climate, Mills went to underweight in stocks mid-April.

“You have information that’s all over the map. Sentiment data isn’t really clear. One day you get a positive virus headline. The next day you get a negative one,” Mills said, explaining that investors need…

Watch the interview and continue reading at MARKETWATCH.com

 

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