智通财经网·2025-11-04 07:17Core Viewpoint - Investment executives from major Wall Street asset management firms suggest that investors should prepare for a potential market correction of over 10% within the next 12 to 24 months, viewing such adjustments as a healthy market development rather than a sign of a bear market [1][2]. Group 1: Market Valuation and Performance - Mike Gitlin, CEO of Capital Group, indicates that while corporate earnings are strong, market valuations are high, with most investors perceiving the market as between fair and expensive [1][2]. - Ted Pick, CEO of Morgan Stanley, acknowledges that while the market appears optimistic, a correction of over 10% is a normal trend, emphasizing the need to focus on fundamental earnings data in the coming years [2][3]. - David Solomon, CEO of Goldman Sachs, notes that while tech stocks are highly valued, this does not apply to the entire market, advising clients to maintain a global investment perspective [2][3]. Group 2: Market Dynamics and Sentiment - Solomon mentions that 10% to 15% market corrections often occur during bull market cycles, allowing investors to reassess asset classes [3]. - Ed Yardeni, founder of Yardeni Research, expresses concern over the extreme bullish sentiment in the U.S. stock market, particularly regarding major tech companies, predicting a potential short-term correction of 5% to 10% by year-end [3][4]. - The S&P 500 index has surged 37% since early April, with such rapid increases being rare historically, leading to skepticism about the sustainability of this growth [4][5]. Group 3: Risks and Market Behavior - The significant weight of major tech stocks in the market raises concerns about the potential for a sharp decline if unexpected events occur, as the market may have already priced in optimistic expectations [5]. - The Nasdaq 100 index is currently trading 17% above its 200-day moving average, indicating a potential irrational market trend [4][5].