Concerns over U.S. stock markets being overvalued, along with fears of a possible recession in the world’s biggest economy, have been persisting for quite some time now. The overvaluation chatter has received a fresh impetus after Fed Chair Jerome Powell said last month that stocks are “fairly highly valued.” His comments, which many see as akin to former Fed chair Alan Greenspan's 1996 warning about “irrational exuberance,” received backing from valuation guru Ashwath Damodaran.
