How low can stocks go? Updated risks and values – December 7th

Published: Dec. 7, 2020, 5:21 p.m.

The downside risk (if the near-worst case outcome for the economy/markets occurred) rose to 58% based on earnings multiples right now from current levels. Stocks are 20% more expensive than a year ago on fundamental basis. It’s clear there’s a lot of risk in the market currently.