Mark Hulbert of MarketWatch put out an article this morning citing the latest survey by Duke CFO Magazine. In the survey they asked 530 CFOs how they thought their stocks were valued. The response they got was a little surprising.
It turns out that nearly half of companies’ chief financial officers think the stock market is overvalued.
That surprisingly bearish result is among the findings of the latest Duke CFO Magazine Global Business Outlook survey: 40.2% of chief financial officers who responded to the latest survey said they thought the stock market is overvalued and will correct downward.
Duke finance professor Campbell Harvey, one of the survey’s authors, says that he finds this high a percentage to be “striking” because CFOs “usually tell us that their stock is undervalued.”
Take it for what it’s worth but I found it pretty interesting.
Source: Nearly 50% of CFOs think shares overvalued (MarketWatch)
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