Ken Griffin founder and CEO of the hedge fund firm Citadel (1990) with $27 billion in assets under management reckons that stock valuations are getting high.
Nevertheless, he still thinks that there are still economic forces that can cause the bull market to continue a while longer.
“I think we’re in the seventh inning of this market rally”
“I think we’re in the seventh inning of this market rally,” he said in an exclusive interview with CNBC’s on Monday.
“Valuations are stretched. We’re not in the sort of classic mania that you get at the very end of the bull market.”
The investor, however, said the environment for stocks is still “constructive.”
He noted the economy’s low inflation, low-interest rates and decent sales growth from companies.
These “combined create a very strong underpinning for valuations,” he added.
But low inflation could now be in the rear mirror.
“Valuations are stretched. We’re not in the sort of classic mania that you get at the very end of the bull market”