S&P 500 valuation breadth at bear-market lows
The hosts argued that the market is not in a bubble, evidenced by the number of S&P 500 stocks trading at a forward P/E above 40 being at levels seen during the 2020 and 2022 bear market lows.
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The Callback
Valuation market timing fails consistently
37 weeks between these two statements.
The thesis presented was that the US stock market is in its second biggest bubble of the past century, with the Shiller CAPE multiple at a three standard deviation event.
The hosts argued that the market is not in a bubble, evidenced by the number of S&P 500 stocks trading at a forward P/E above 40 being at levels seen during the 2020 and 2022 bear market lows.