Is the U.S. Equity Market Overvalued?

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Nov. 27 (Bloomberg) -- Jeremy Hill, managing director of TF Market Advisors, discusses what's moving the markets with Su Keenan on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Neither cheap nor expensive and he joins me now to explain what you think is a no-brainer.

When it look at the equity market right now, it is almost like someone who is enjoying live radio but they don't want to.

They wake up and they realize their car is preprogrammed.

Maybe it's a moment of weakness but the issue here is that basically, equity markets are getting more participants.

They were bearish.

They did not want to like it.

They are coming back into the market, even now.

More money is coming back in.

It is revised to the upside even as we have 3, 4, five weeks left of real trading.

What do you mean that it is biased towards the upside?

Looking at equities and the abstract is a loser's game?

It is.

If you looked at equities the beginning of the year and compare them to commodities or bonds, what would be a better asset class to invest in?

They had this vision that 2008 was a terrible time.

We almost imploded in europe.

Profits are going up.

You think the risk is out of the market and not in?

Next year, i would suggest to you that it is not just the data, the market on the equity side where you just put your money into a fund and it goes away.

It is one of active management where you have to pick your sector and companies on the fundamental analysis.

Let's talk about this friday and next.

Friday, holiday shopping.

Big stuff going on in europe.

Talk about it.

First and foremost, the meme is disinflation and we will get the inflation numbers out of europe.

That will have a big effect on how they are thinking about what the ecb will be doing going forward.

There has been conflicting messages.

If you look at what's going to happen a week from this friday, this could be the most important number we have seen for the last several weeks.

Paradoxically, that could be the number that is most dangerous.

It's so good we could see tapering coming sooner than expected.

Let's move on and talk about the nikkei.

I do think that abe-nomics has more legs.

We have gone through the one-to- one level and we are at 102. we are going to get another 50% rise?

I highly doubt it.

That does not mean it's not an attractive asset class particularly as the yen continues to weaken.

A few seconds left.

You say this is going to be very important, bonds and europe.

Some it up.

Who is in the market hedging?

Who is being greedy?

I think we will see managers tending to be greedy instead of hedging their bets.

A rare risk.

Jeremy hill from tf market

This text has been automatically generated. It may not be 100% accurate.


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