2020 Markets About Liquidity, Not Valuations: Longview's Watling

The video discusses the economic outlook and its impact on earnings, highlighting the potential rise in input costs and the lack of correlation between earnings and market returns. It compares the US and European markets, noting the valuation differences and sector weightings. The discussion emphasizes that liquidity and cyclical momentum drive market movements more than valuation, suggesting a short-term overweight in Europe due to a cyclical bounce.

What does the speaker suggest about the valuation of the US compared to Europe?

What is the speaker's opinion on the importance of liquidity in the current market?