Sep 08, 2020 Guest(s): Lyn Alden Founder, Lyn Alden Investment Strategy
With valuations overstretched as they are, another correction on the same scale as what we saw in March this year is becoming more and more possible, said Lyn Alden, founder of Lyn Alden Investment Strategy."I think there's a rising probability for [a correction]. So, we've had a really strong rally from the March bottom. Starting around June, I began to get more defensive because we had some overbought indicators. We saw kind of a partial consolidation in correction there. Many value stocks still haven't made it up past that June peak," Alden told Kitco News in an interview on September 2.Alden's comments come as the S&P 500 fell more than 1.5% and the NASDAQ tumbled 2% on Tuesday.