Ed Yardeni says investors might be 'delusional' and the market is primed for a pullback

Ed Yardeni
Scott Mlyn | CNBC

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The market recovery has gone further than the fundamentals support and investors should stop bidding up stocks, veteran strategist Ed Yardeni said Monday.

The president of Yardeni Research joined CNBC's "Halftime Report" to discuss his new note, in which he wrote that growth investors are "punch drunk."

"I don't know that they're delusional yet, but if this market just keeps going higher I'll have to conclude that's exactly what's happening," Yardeni said.