Analysts and commentators are often derided for saying that stocks are overpriced and due for a correction. Behavioral economics, the fad at the moment, holds that making predictions is like throwing darts at a dartboard with a blindfold on.
But what happens when a growing chorus of the best investors in the world all start to say exactly that? Should these people also be treated like Greek mythology’s Cassandra, who could see the future but couldn’t persuade others about her predictions?