The S&P 500 is way more expensive than it appears

The $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ is way more expensive than it appears.

Based on base rates, the index is in the 99th percentile of valuation.

See: (1) CAPE ratio, (2) Market Cap vs. GDP, (3) Equity Risk Premium, (4) Price/Book.

Bubble territory!

As the toothy bite of STAGFLATION starts to rend investor optimism, earnings will decline and multiples will contract.

History tells us we're staring at a (-50%) decline.

See: 2000 or 2008.

The Fed put is dead, and rates will be higher for longer.

Geopolitics + Domestic Politics + Inflation + War + Commercial Real Estate + Housing + Supply Chains = CATALYSTS.

The writing is on the wall.

STRONG SELL

# US Stocks Opportunities

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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