You Can Run (From Risk), But You Cannot Hide
Valuations on so-called safe assets look stretched, while investors remain wary of equities, despite compelling valuations that more than compensate for their greater volatility.
Joseph G Paul
December 17, 2025
A television monitor displays a graphic about the U.S. Federal Reserve interest rate decision while a trader works on the floor of the New York Stock Exchange in New York, U.S., on Tuesday, March 15, 2011. U.S. stocks escaped the brunt of a global selloff that sent Tokyo shares to their worst two-day drop since 1987, paring losses as Japanese officials made progress in stabilizing damaged nuclear reactors and the Federal Reserve said the economy is improving. Photographer: Jin Lee/Bloomberg
Jin Lee/Bloomberg
