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Dec 17 2019

Maybe Valuations Are Reasonable?

  • Dec 17, 2019

Since the early 1990s, with only a brief exception at the worst of the 2008-09 bear market, the U.S. stock market valuation has been considered “high” to “ridiculously high.” This is illustrated in Chart 1, which shows the Shiller CAPE Price/Earnings (P/E) multiple since 1900. 

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James Paulsen / Chief Investment Strategist

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