Comparing the $SPX index growth with earnings growth. The index is 2.33 times more expensive than it was at the top of the housing bubble.

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via @AndysCycles:

3 valuation charts for your amusement.

Corporate profits up 3% per year since 2006.
$SPX over total business sales at all-time high.
SPX over total construction spending at all-time high.

See also  so far into Q3 earnings, stocks that missed profit estimates lagged the S&P 500 by 4.4% the next day -- the worst reaction since 2017

 

 

 

 

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