Dennis Gartman Says ‘Bear Market Is Required’ as Stocks Over-Valued
- University of Akron endowment to cut equity exposure: Gartman
- Growth tech favored by Cathie Wood to have a ‘difficult time’
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U.S. equities investors, having enjoyed a lengthy run of rich valuations during the course of the pandemic, need to pull back, especially from growth stocks as the Federal Reserve begins to tighten monetary policy, according to Dennis Gartman, University of Akron Endowment Chairman.
“A bear market is required at this point,” Gartman said Monday on Bloomberg Radio. “We had an expansion for a long period of time and I think over the course of next year, he or she who loses the least amount of money will be the winner.”