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2022 Outlook: Why Stretched Valuations Might Not Matter

Alex Galanis profile picture
Alex Galanis


  • Increasing passive investment inflows support higher multiples in the stock market.
  • Real 10Y Treasury yields approaching negative territory translate into a bullish signal.
  • Traditional alternatives to stocks still fail to capture investors' attention.

Finance and Economy Chart for Dollar Gold Euro Currencies Trading View

cemagraphics/iStock via Getty Images


Over the past few years, the stock market has been experiencing an impressive run-up, recording a 5-year 110% growth. Despite a massive pullback after the Covid-19 pandemic hit in early 2020, recovery has been swift, with all major indices making new all-time high since. While earnings

This article was written by

Alex Galanis profile picture
Financial Analyst, interested in U.S equities, examining Growth, Dividend Growth and Value Investment opportunities, as well as ETFs.  Accounting and Finance Graduate. CFA level ΙI candidate.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (3)

High Sharpe profile picture
Passive works, until it doesnt
j. hughes profile picture
When you choose the lessor of two evils you have still chosen an evil. There are other alternative such as real estate, farmland, art, gold, etc.
And why do you think Mr. Buffett is sitting on ~150B dollars?
The gold chart long term is very interesting. Potential for a huge rise, but then technical charts might be more like prophecy or then they might not. Gold is rising slowly and hasn't broken the top trend line yet but if it does that would signal more. We have a huge cup with handle going back 50 years then a smaller cup with handle over the last ten which is really interesting. It does make sense that gold might rise since the Fed has issued so many trillions out of thin air.
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