“Beware this stock market rally because it’s reminiscent of what led up to the 2008 crisis, JPMorgan Asset Management CIO says”
June 13, 2023
“…Investors should be wary of the ongoing stocks rally because it doesn’t reflect looming economic risks, and is reminiscent of the months that led up to the 2008 financial crisis, according to JPMorgan Asset Management’s chief investment officer.
Bob Michele told CNBC on Friday that the current market conditions remind him of the March-to-June period in 2008.
“We’re seeing things that you only see in recession or where you wind up in recession,” Michele said, referring to the Federal Reserve’s aggressive interest-rate increases, the credit squeeze caused by banking-sector stress, risks tied to commercial real estate, and the inverted bond-yield curve, which is widely regarded as a recession indicator…”
https://finance.yahoo.com/news/beware-stock-market-rally-because-204528424.html
Personally my position is now wait and save cash. The market, or at the very least all the stocks I’m currently looking at seem to be in a downward trend over time. I think it’s better to wait this out for the time being.