bullish

The Bubble Isn't Where You Think It Is

545 Views27 Dec 2022 09:09
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SUMMARY
  • Just a short pre-Christmas note today. A number of market pundits have been giving the all clear to jump back in the pool now that crypto has been nuked and Peleton et al are down 80%+.
  • Yes, those were bubbles of the more ridiculous variety, but the S&P 500 is still dangerously expensive and growth stocks are not the sole reason.
  • Under the hood, the index is stuffed with mature industrial and consumer businesses still trading well above their historical norms.
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