Next stock market crash: Evidence of a Y2K-like collapse is piling up

Reuters

• Today’s market is facing a growing number of alarming
  comparisons to the dot-com era.
• The most recent observation, from Leuthold Group,
  relates to the jagged, uninspiring recovery by US stocks since
  their 11% correction earlier this year.
• Other bearish parallels — specifically those relating
  to valuation — tie into arguments raised by the reputed market
  bear John Hussman, who sees a 67% stock-market drop
  brewing.

As stock-market valuations have swelled
to within striking distance of all-time highs, many experts have
been hesitant to compare the situation to the tech bubble.

Not Leuthold Group.

In fact, to those at the Minneapolis-based firm, the comparisons
keep piling up.

Leuthold’s latest observation comes from recent research, titled
“Y2K All Over Again?” The report assesses the S&P 500‘s difficult and erratic
recovery from its 11% correction suffered in February. It notes
that the choppy, six-month rebound since then has eerily mirrored
the five-month upswing that followed the equity meltdown of
March-April 2000. …

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