I jabber a lot about valuation metrics here, and I mentioned this one on Twitter the other day. Its doesn’t need much explanation – the median stock in the S&P 500 is the most expensive it has even been (for as long as we have data). That’s never a good sign!
If your favorite valuation indicator is not at “the highest ever” , many valuation indicators and now at “the highest ever except 2000”. That’s not good company unless you are a short seller.
Click to enlarge…
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