Is 'Unbridled Optimism' The Perfect Setup For Stock Shorts?

Authored by Simon White,  Bloomberg macro strategist,

Stocks are overpriced for an economy at peak uncertainty where a recession, and much deeper price declines, could rapidly become the base case.

The market has been rallying defiantly against a risk-laden backdrop. But such bullishness is out of step with the economic reality and leaves stocks with much more downside than upside potential.