Anjali Sundaram | CNBC
Hedge fund manager Stanley Druckenmiller told the Economic Club of New York on Tuesday that stock market is historically overvalued.
“The risk-reward for equity is maybe as bad as I’ve seen it in my career,” Druckemiller said, according to the organization’s Twitter account. “The wild card here is the Fed can always step up their (asset) purchases.”
Stocks dropped dramatically in March as the coronavirus pandemic spread around the world, grinding many economic sectors to a halt. The major United States indexes have since rallied and recouped many of their losses, with the tech-heavy Nasdaq now positive for the year.
The bounce back came amid…