Open Thread: Make the Bear Case

The past few weeks, I have been arguing against the notion that we are in a bubble.

Let’s look at the other side of the argument: What is the (rational) bear case? We know stocks are no longer cheap, and this bull — already up 160%+ — is on the high end of the range.

What are the legitimate bear arguments?

This is an open thread — make your best case!

 

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