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S&P 500 equity risk premium of 2.41% suggests investors are still better off owning US large caps rather than hiding out in 10yr TIPS.
The S&P 500’s valuation is the highest it’s ever been except for the early 2000s, at least according to its cyclically adjusted price-to-earnings ratio, a metric invented by economist Robert Shiller that divides a stock price by the average of its inflation-adjusted earnings over the past 10 years.
Bullish investors argue that while market valuations are rising because of tech, the pace of increase is much…
BBG: Asset bubbles tend to be much harder to spot in real time than after the fact because fundamentals are usually at the center of the debate, and the metrics investors focus on can be fluid, according to TS Lombard economist Dario Perkins. “It is easy for tech enthusiasts to claim that ‘it’s different now’ and that fundamental valuations will never be the same again,” he said.
But some fundamentals are…
BBG:The S&P 500’s 10 biggest stocks now account for roughly 40% of the index, a level of concentration not seen since the 1960s.
That has put some investors off, including Wall Street research veteran Ed Yardeni, who said in December that it no longer makes sense to recommend…
January inflows into equity-focused ETFs are running at five times the average for the month, with the funds attracting a record $400 billion over the past three months, a sign of just how aggressive risk appetite has become.
Leveraged-long ETFs now hold $145 billion in assets, compared with just $12 billion in funds that bet on market declines. Cash allocations have dropped to record lows, according…
Sandisk Off to Best Start for S&P 500 Stock Since 2003 #Sandisk #S&P500