World Class Faculty & Research / July 24, 2020

Bust or Boom? Webcast To Explore the Question

Is the stock market in bubble territory, ready to burst? Or are these boom times?

That will be the debate at the U.S. Equities Boom or Bust Update, a virtual event being hosted by the CFA Society Washington, D.C.

Maryland Smith’s David Kass will make the case for the boom argument, as he did at a similar debate in 2018. Kass, a clinical professor of finance at the University of Maryland’s Robert H. Smith School of Business, will present his analysis and recommendations, and will discuss the potential impact of rising volatility, changing interest rates, political instability and geopolitical risk.

Michael P. Lebowitz, CFA and economic and investment researcher at 720Global and Real Investment Advice, will present his case, meanwhile, for the bust argument.

The event is open to the public, and is aimed at equity portfolio managers, risk management professionals, and anyone who invests, according to the organizers.

Participants will be able to hear both sides and ask follow-up questions of the experts.

The speakers will discuss the investment environment in the U.S. and globally, emphasizing in particular how past quantitative easing measures by central banks and deficit fiscal spending are blamed for potentially creating asset bubbles, especially in equities. They’ll explore current U.S. equity pricing, relative to their historical valuation.

They’ll discuss how long-term investors have fared, and call out some of the biggest mistakes investors make.

The hour-long webcast begins at 4 p.m. Wednesday, Sept. 9. To register go to the CFA Society’s event page.

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About the University of Maryland's Robert H. Smith School of Business

The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

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