Oppenheimer made a gutsy, prescient call last year when he warned that US stocks were starting to look too expensive and began advocating for a shift into long-lagging international markets.
Investors are pricing the US stock market as if there’s no longer any risk of a tariff-driven recession. Peter Oppenheimer isn’t so sure.
The chief global equity strategist at Goldman Sachs Group Inc says it’s possible that tariffs bite hard enough to hurt equity prices even as Washington agrees on deals with key trading partners. And while the US might dodge a recession, valuations are high enough that it’s prudent to keep diversifying into other markets.
