Business Insider executive editor Sara Silverstein chats with deputy executive editor Matt Turner about his biggest takeaways from the recent UBS CIO Global Forum, where he chatted with eight investment officers. According to him, they all share the view that the stock market is fully-valued, if not slightly expensive, but that there isn’t any imminent downside risk due to overconfidence.
Turner also addresses recent comments from Fidelity‘s director of global asset allocation research Lisa Emsbo-Mattingly, who noted that the US market may be overdue for a 5% correction, since we haven’t gotten one in about a year and a half. Asked about whether investors have been buying as the stock market has hit new highs, Turner cites a behavioural strategist who says that when the market is grinding higher, people don’t want to miss out. He also notes the subdued reaction the market has seen when faced with headline risk, such as developments out of North Korea.
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