Year 2021 will be equity story, expensive stocks will become more expensive: Port Shelter’s Richard Harris

A record amount of liquidity has been pumped into the system by central banks, said Richard Harris, CEO of Port Shelter Investment Management.

“Going back to 2008, before the global financial crisis, the central banks of Europe, the US, Japan and the UK had a balance sheet of $4 trillion. Today, they got a balance sheet of $21 trillion and that’s an enormous amount of money following through the market and that money is finding a home in assets, as we see,” he said.

On the US COVID-19 package, Harris said that President Donald Trump had no option but to sign the relief package.