A 10% to 20% pullback could strike stocks early next year, long-time bull Ed Yardeni warns

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Edward Yardeni is questioning the market’s win streak. The long-time bull believes the record rally will take a breather because valuation multiples are getting back to nosebleed altitudes. “I’m concerned about a possible melt-up here,” the Yardeni Research president told CNBC’s “Trading Nation” on Friday. “I’ve been shooting for 3,500 for the S&P 500 by the end of next year, and we’re getting closer. Faster than I would have expected.” And the consequences could be downright painful ...