SPX: Current price/revenue is the highest ever, while margins are also the highest ever. A mean reversion (or even halfway to mean reversion) in either one spells trouble.

via @pianomikey1:

Compare: current price/revenue is the highest ever, while margins are also the highest ever. A mean reversion (or even halfway to mean reversion) in either one spells trouble. No recession necessary. H/T for charts, for the idea.

 

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