Are US stocks too expensive?

Ruchir Sharma, an investor and frequent contributor to the FT, came out and said it the other day: The US stock market is in a bubble. But is it a bubble or just the rational behavior of investors who believe the US really is exceptional? Today on the show, Katie Martin and Rob Armstrong discuss the outlandishly good performance of the US market, and ask how long it can last. Also they go long Elon Musk’s pay package and short the transatlantic bug.

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You can email Robert Armstrong and Katie Martin at unhedged@ft.com.

Read a transcript of this episode on FT.com

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