Overvalued Markets and Long Term Timing Strategies
Let’s first look at August market performance:
While rate sensitive assets including long term bonds, gold and REITs all had some loss, emerging market stocks (Vanguard emerging market stock index VEIEX) gained most (almost 2%). Other stock assets including international stocks (VGTSX) and US stocks (VFINX) were also positive. This happened in a backdrop where US stocks were near all time high.
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