(EP. 17) The Business of Being Bullish

<p>The lowest 2021 S&amp;P 500 large bank price target is 3800, which is essentially where we are. In 12 of the last 15 years, the consensus end of year S&amp;P 500 price target has been overestimated. Being bullish is good for business and a safe choice for analysts when everyone is following the herd. We discuss this in our latest episode. We also take a look at the valuation of the market which is at levels hard to justify even in this low rate environment. We discuss Jeremy Grantham&apos;s piece from early January about the nature of bubbles, and why he believes we are in a bonafide bubble at the moment. Finally, we answer a listener question about what to do with the cash that you want to use to buy a house in a few years. </p><p>Articles Discussed</p><p><a href='https://www.cnbc.com/2020/12/21/wall-street-makes-a-big-sp-500-call-for-2021-history-says-ignore-it.html'>Wall Street analysts make a big S&amp;P 500 call for 2021. Market history says ignore them</a></p><p><a href='https://www.cnbc.com/2021/02/04/goldman-says-the-bull-market-is-still-in-the-early-stages-gives-six-trades-to-play-it.html?__source=androidappshare'>Goldman says the bull market is still in the early stages, gives six trades to play it</a></p><p><a href='https://www.cnbc.com/2021/02/02/short-seller-carson-block-says-rolling-bubbles-that-keep-popping-up-show-fragility-of-stock-market.html?__source=androidappshare'>Short seller Carson Block says rolling bubbles that keep popping up show fragility of stock market</a></p><p><a href='https://www.gmo.com/americas/research-library/waiting-for-the-last-dance/'>WAITING FOR THE LAST DANCE</a></p><p><br/></p><p><br/></p>