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'Markets always overshoot' — Gary Cohn says stocks are seeking fair value as coronavirus concern grows

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'That doesn't mean they can't go lower. And it doesn't mean they can't go higher,' former Goldman Sachs executive Gary Cohn told CNBC.

"We're in the period where we're trying to find a relative fair value for equity," Cohn said on"That doesn't mean they can't go lower. And it doesn't mean they can't go higher. We're trying to digest right now what value should be."

"Markets always overshoot," said Cohn, who served as president of Goldman for over a decade. "We probably overshot on the downside, and we probably overshot on the upside." following the reopening of their economies. There is concern over what the economic impact of a possible second wave of cases could be.

 

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