Market Update Aug 19 2024 - Liniam Capital

Market Update

August 19th, 2024

The US equity market rallied relentlessly from the beginning of the year through mid-July and the rally was mostly driven by a handful of large tech companies. This market move has pushed the value of the equity market relative to the size of the economy to a historic high, matching the peak reached in late 2021, and well above previous cyclical peaks. The relationship between the value of the market and the size of the economy is known as the Buffet Indicator because Mr. Buffett views this as the best single measure of valuation for the overall market.

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