It was less than two months ago that broad market valuations--measured by the Leuthold 3000 median Normalized P/E--were still within the wide range we consider to represent fair value (between the 30th and 70th percentiles). Thanks to the rush of post-election euphoria, that's no longer the case, with median P/E shooting up three points in six weeks to 26.1x.
Dec
16
2016
Broad Market Valuation Check
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