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Yield curve pioneer Campbell Harvey fears investors have forgotten the dot-com bubble

Yield curve pioneer Campbell Harvey fears investors have forgotten the dot-com bubble

Are US companies more valuable than they were before the pandemic ripped a hole in the global economy? Investors are treating American stocks as though they are, but not everyone thinks that’s a good idea. The Nasdaq Composite, a benchmark that’s heavy on technology stocks, climbed to the highest close ever, as did the S&P 500 Index of large US companies.