Posted on 07/12/2023 7:35:54 AM PDT by millenial4freedom
The stock market is overvalued, and it's not just the tech sector that appears stretched, according to JPMorgan's chief global market strategist Marko Kolanovic.
The S&P 500's forward price-to-earnings ratio is currently 19.4x, and when you back out tech and AI stocks, the remaining 65% of the index trades at 17.4x, according to Kolanovic. That's not cheap, as the historical forward P/E of the index is 15.3x, meaning that current valuations represent a 10% premium.
"FOMO is in full swing, there is complacency being built into stocks with VIX at the lows of its range," Kolanovic said in a Monday note. The CBOE Volatility Index, better known as Wall Street's fear gauge, traded just below 15 on Tuesday, and was as low as 13 last week.
(Excerpt) Read more at msn.com ...
That’s nice. Many people dream of doing just that - myself included.
Congrats. You made it. You can relax and grow old at your leisure.
The stock I own called AMD went up $46 in 19 days in May. Since then it is down about $15. Today up $3.26
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