If there’s evidence we’re near the peak of the US equities bubble, this is it.

This chart blows my mind! The US PEG ratio is at an all-time high after almost doubling in the space of 12M to 1.8X – a +4 standard deviation move! US LT EPS growth has never been so expensive. Earnings need to stage a big comeback in ’20 to justify these record valuations.

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