Billionaire entrepreneur Mark Cuban told CNBC on Thursday that he believes the stock market is overvalued, citing the uncertainty around consumer spending due to the coronavirus pandemic.
"It's almost impossible to predict where consumer and corporate demand is going to come from," he said on "Closing Bell."
Demand will most definitely come out of necessity. Americans inharent ability to consume coupled with the new pent-up desire to interact will make post Corona economy one to write about and other countries to envy.
You can predict that food and shelter will be consumed. Clothing and non necessities not so much.
mcuban Indubitably! I would add 2 basic human principles which are LOVE & HATE. Consumers will ALWAYS gravitate to what they LOVE=consumer demand & HATE to be told what they can’t have=corporate demand. Now is the time to TRUST brands people LOVE 2 HATE=Tesla, Apple, Mavericks
Market more likely try to price in the inflation that the Federal Reserve $7 Trillions balance sheet, while the whole US stock market about $25Trillion valuation or so at this time. imho.
Totally agree with that.
Money money money. It is all these rich buggers think about.
mcuban Employees have to go back to work if their employers call them back. You can’t get unemployment payments if you refuse to go back. Quit saying workers won’t go back to work because they’re making more $$ on unemployment. Also, cubanforpresident2024
Maybe from the thousands of dollars consumers collected through the ridiculous PUA program average American made 900 per week for doing NOTHINHG!
Indeed it’s hard to predict valuations. I recently shared a simple strategy that will change how you value stocks. I’m confident you will learn from these short mins. If you do learn something, please help subscribe to my channel for more of such content!
andydingej mcuban must be a 6-month forward P/E investor
Cuban showing he doesn’t have much understanding of current markets. Outside his ball of wax. Or he is lying playing tothe interview and the media brainstorm , people still eat , still spend money on clothes , home , heat, utilities . Etc people don’t just evaporate
Cuban is a jerk therefore if he has an opportunity to do or say something negative about anything he will exploit it. Any sane person knows that one could argue the opposite for the exact reason Cuban gives here. It might be undervalued Cuban!
And for those reasons you’re out
I agree 110% with mcuban!
cuban, along with a few others, are right, and most people are wrong, because most people are betting blindly. they could win by luck, but the odds are against them. one should be very careful of this market. play individual stocks and keep an eye on the exit.
Agreed. Locking down every state was a huge risks that should not have been taken. We should have locked down Seattle and NYC (shut borders) and minimized impacts to the rest of the US.
mcuban seems like a mathematicians game ?, than a economists, more probabilities than possibilities, ?
The flooding of the world with Digital money will bring Armageddon. Better find a digital Ark.
Def agree with the last paragraph of the article
I’ll listen to Mark whose a successful billionaire mogul than you twitter folks who says the opposite.
CNBC is run by Concast AKA NBC. You’re politically motivated that’s the world we live in
NOBODY CARES WHAT THIS IDIOT SAYS. WHY DOES CNBC - “NBC , REMEMBER” - KEEP SAYING HE’S RUNNING FOR PRESIDENT?
Another Billionaire shorting the market. Trump
Old political Mark back at it
And because of that...I'm out...
Hipster_Trader 3rd is mark cuban
concur !
I don’t think it’s that hard to predict at all. Go to states that have been open or never closed.. and then compare demand. Seems pretty simple to me.
Why do people ask him, he is not an investor.
Companies that everyone needs something from. Not that hard.
Go home Mark
This is true for any time period. Tell me if a time period where predicting consumer demand was easy?
In the short term, longer term, if you can wait, big winners & some losers yes
Duhhhhhhhhh
Overvalued based on what measuring statistic? There is no one measuring tool that says over or under valued. Current prices are simply the result of supply and demand for stocks! Over or undervalued is story, not fact.
Fvck him. He’s right. But Fvck him.
Almost every Starbucks in PAC NW has long lines for drive thru
Maybe it isn’t about the consumer anymore mcuban
The market is overvalued because it's impossible to predict the damage government shutdowns of the economy have done to businesses across the nation and world.
Brilliant
He’s right, but it’s more so because, it’s a big fat bubble after 11 years of easy money QE , low rates .
What you said isn’t the reasons why the is overvalue but is undervalue ,go close you short .
It is seems he has short positions went against him ,close you short .
The Stock Market is all smoke and mirrors. The only problem is that the wealthy play games and average workers pay the price. Complete BS.
Market is forward looking 6-12 months. With the current condition one easily say over value, but one factor hidden is Federal Reserve printing press. Dollar will be less purchase power in 6-12 months - that view, market not over value but reflect on inflation of Fed printing
CNBC and hedge funds billionaires for fews days now tried hard to manipulate the Stockmarket down which isn’t media work but the the end Stockmarket went up very strong , no credibility for them , CNBC turned off forever .
The market is a spoiled child hoping daddy makes it all go away. Only daddy is the problem.
That doesn't mean it's overvalued, it just means that Marc doesn't know. For him to claim a fact based upon an admitted lack of knowlege is just illogical and yes, moronic. Hope cnbc reporting is accurate here. Otherwise, it also is....
I agree on almost everything Mark says, especially about stimulating demand, which is the most important thing or stimulus is useless. However, consumer brands, retailers and entertainment stocks are still getting crushed left & right...For example, Macy’s is down 72% YTD....
Idiot pretending to be an intellectual and failing badly.