It looks like 'Y2K all over again' for stocks as evidence of an imminent crash continues to pile up
- Today's market is facing a growing number of alarming comparisons to the dot-com era.
- The most recent observation, from Leuthold Group, relates to the jagged, uninspiring recovery by US stocks since their 11% correction earlier this year.
- Other bearish parallels - specifically those relating to valuation - tie into arguments raised by the reputed market bear John Hussman, who sees a 67% stock-market drop brewing.
As stock-market valuations have swelled to within striking distance of all-time highs, many experts have been hesitant to compare the situation to the tech bubble.
Not Leuthold Group.
In fact, to those at the Minneapolis-based firm, the comparisons keep piling up.
Leuthold's latest observation comes from recent research, titled "Y2K All Over Again?" The report assesses the S&P 500's difficult and erratic recovery from its 11% correction suffered in February. It notes that the choppy, six-month rebound since then has eerily mirrored the five-month upswing that followed the equity meltdown of March-April 2000. ...
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