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Peak EPS

Sep 07 2019
Stock Market

Pricing In “Peak” EPS

  • Sep 7, 2019
Pricing In “Peak” EPS

A recent theme in our valuation work is that we no longer need to assume a full-blown “reversion to the mean” to illustrate current U.S. stock market risks: Even a reversion to “old” bull market highs in ratios like S&P 500 Price/Sales, Price/Cash Flow, and Normalized P/E would result in bear-sized losses.

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November 2019
Vol. 39 No. 11

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