Shares, bonds and property are overpriced – but there are still opportunities out there
Shares are shockingly expensive. Wall Street rose by 29% last year, as the market entered its longest-running “bull” phase in history. The biggest stocks, Apple, Microsoft, Amazon and Alphabet (Google) are together now worth $4tn (£3.1tn). Only 14 countries in the world have a GDP that is bigger than Apple’s market capitalisation alone.
Some stocks have seen gravity-defying increases. Tesla made just 365,000 cars last year, but at $85bn its market value is now more than Ford and General Motors combined – and they sell about 14 million cars a year.
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