With signs of excessive speculation and high valuations in the stock market, the current environment resembles a late-cycle bubble that is very much “similar” to the dotcom boom in 2000, Bank of America says, predicting a negative year ahead for stocks in 2022.Timothy A. Clary/AFP via Getty Images“There are too many similarities between today and 1999/2000 to ignore,” said analysts led by Savita Subramanian, head of U.S. equity and quantitative strategy at Bank of America, in a recent note.
Some of the signs in today’s market are arguably worse than in 2001, Bank of America argued, adding that signs of speculation are evident amid a “growing acceptance of the unthinkable” among investors.
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