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”
Dan Loeb targets Sony. Dan Loeb is an activist investor and founder of Third Point, which oversees about $14.5 billion in assets.
Last year the activist investor viewed Campbell soup as a bargain when Third point reported that the soup maker could fetch a takeover value of $52 to $58 per share.
A year later and the activist investor Dan Loeb targets Sony
Dan Loeb's activist hedge fund Third Point is raising an investment vehicle to generate between $500 million and $1 billion so it can continue to buy Sony shares, according to a recent report in Reuters.