According to Goldman Sachs, the markets are not even close to the bubble

While global stock indices are close to record highs, one of the largest investment companies Goldman Sachs does not think that markets should be in a bubble. According to the bank, current valuations are not a big systematic risk.
 

We are still at the beginning of the economic cycle

There are also signs of over-optimism in the market, with some stocks growing suspiciously high. However, the underlying market factors and the early stages of the economic cycle suggest that we are very far from a market bubble. However, specific stocks that show huge increases in a very short period of time will continue to be a very risky business for investors.

Better prospects for economic recovery are also kept at record highs by European indices, which have so far coped with extended lockdowns and delays in vaccine deliveries. Therefore, in Europe, we might witness a gradual fading of the risks of correction, which, paradoxically, may be affected by possibly worse and slower data than in the US, where the pace of vaccination is faster. Everything is far from perfect, but despite the high valuations, which mean lower yields, in the long run, we should not be in the middle of one big bubble.