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by marcusverus
1701 days ago
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> In any case, I would argue that most of the asset price appreciation of the last 10+ years appears largely rational in the sense that it is supported by corporate fundamentals (record profits, record GDP, etc) and other robust economic data that is consistent with a growing economy. It isn’t just a fictitious boom as many “asset price inflation” narratives like to imply. The PE ratio for the S&P 500 is currently ~28X, which is roughly double it's historical average and ~50% more than the average from 2010-2020. Is it really supported by corporate fundamentals? [0] https://www.multpl.com/s-p-500-pe-ratio |
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