US stock market strength seems exaggerated, strategist says

US equities (^GSPC, ^DJI, ^IXIC) have rallied in the past few months, with some questioning whether "American exceptionalism" is driving this market activity. Breakout Capital founder and Rockefeller International chairman Ruchir Sharma joins Catalysts to give insight into the recent rallies and the issue of companies' "over-earning."
"I think that one of the key aspects here is to understand that the real issue that we have today is that some companies in America are earning supernormal profits, which is very high profits relative to what any capitalist society should allow these companies to earn. So the valuations are expensive. But the real story is not about valuations. The real story is the fact that you have these companies in America today, especially these tech giants, which are, producing these incredible cash flows, incredible amount of earnings," explains Sharma.
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