Is the market overvalued? Commonwealth CIO Brad McMillan weighs three answers to this question. : Over the past year, we have seen the market continue to rise, setting new records along the way. Given the strong climb up from the pandemic downturn in 2020, many people have called out the high stock valuations. Currently, though, the market has pulled back—at least temporarily—and investor fears are rising that valuations may collapse, taking the market down with them. The concerns are understandable, but are they justified by the data? Has the market truly become overvalued?