Is this market undervalued?
"It's entirely possible that the entire market is undervalued because we went down so low believing that a vaccine was far, far off. President Trump recently put out a telling video showing just how wrong so many health professionals were when they talked about the impossibility of a vaccine any time soon. Their sobering negativity influenced so many older people, especially boomers, to flee the market. I think they now feel they have to come back but they are doing so ever reluctantly while the younger cohort goes to work finding stocks every day," wrote Jim Cramer in his Real Money column on Wednesday morning.
"If all stocks are, indeed, undervalued, then one can sense there is a level where they can top out, basically where they started ex the stocks that have dramatically improved their lot because of the pandemic and aren't coming down any time soon. The digitization stocks in particular, the ones that powered the gigantic exodus from the central office, explains a lot of the move," he continued.
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