Is the stockmarket rally about to peak?

Stocks are hardly cheap, but has the rally finally peaked? Andrew Van Sickle reports.

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Even seasoned investors are buying high and crossing their fingers
(Image credit: Squaredpixels)

"When the last bears start to turn," the market top is nigh, according to a market dictum. In which case, markets should now be "feeling rather twitchy," says Miles Johnson in the Financial Times. Jeremy Grantham of GMO is a legendary value investor who called the dotcom bubble and the pre-crisis housing bubble. Having warned around two years ago that this long post-crisis market rally was heading for a correction, he has now decided that US large-caps may deserve to trade at higher multiples than in the past, because they are consolidating and have far more earning power.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.