November 13, 2017

US stocks overvalued - selling Allergan

Doug Kass has sold his stake in Allergan and taken it off his Best Ideas List according to TheStreet. 

"I believe there may be more vulnerability to Allergan's 2018-19 outlook than suggested by management or believed by analysts." 

Broader stock market risk
"I believe the U.S. stock market is overvalued and, accordingly, I must have a compelling reason and a positive reward vs. risk to justify the retention of a stock."