A renowned market bear who called the dot-com crash warns stock valuations are at ‘nosebleed’ levels — and suggests that tech stocks could be the market’s ‘Achilles’ heel’

• Societe Generale’s Albert Edwards warns stock valuations are at ‘nosebleed’ levels.
• He highlighted a gap between near-term and long-term growth expectations.
• Outside of the pandemic, the gap has never been higher, he said, and that could mean trouble.

Earlier this week, Morgan Stanley’s Chief US Equity Strategist Mike Wilson — who was the most accurate stock market forecaster among major Wall Street strategists in 2022 — again sounded the alarm bell for stocks.