(September 2020)

Some investors are worried that last week’s mini-meltdown might be the start of something worse. Goldman Sachs is not helping anyone with those fears this morning. While the bank is actually bullish on stocks in the long haul, their announcement today offers cold comfort. Goldman says that if investors start to doubt the ultra-quick recovery that has been priced by the market, then a further 10% fall is a possibility as investors reassess the economy’s growth trajectory.

FINSUM + Magnifi: Our house view agrees with Goldman – there is a lot more in indexes’ favor right now than there is against them, but in the short term that may not matter as the reality of super high valuations and a slower recovery weigh on investors’ psyches.

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