Stocks are now more overvalued than ever per this measure
“Therefore, looking at the ratio of market valuations to overall profits suggests ‘P/E ratios are some 80% above the long-term norm,’ [Ned]Davis wrote.”
USAGOLD note: Ned Davis is a highly-respected Wall Street analyst. The 80% figure takes into account overvaluation resulting from corporate stock buybacks. The investing public will largely ignore the astute Mr. Davis like all others who issue warnings about the stock market overvaluation. (Please see the post immediately below.) That said, for those who tend to be more open-minded, the article linked above is worth the time spent.
Repost from 1-8-2020