In our mid-month Of Special Interest, “Valuation Extremes: Here Be Dragons,” we examined valuation outliers as a measure of market sentiment. The hypothesis was that exuberance is reflected in investors’ willingness to hold stocks priced on an aggressive “vision” of the future; companies that are either habitually unprofitable or trade at a Price/Sales ratio above 15x.
Mar
19
2021
A Flight Of Wee Dragons
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![Scott Opsal / Director of Research & Equities](https://leuthold.imgix.net/leutholdgroup.com/site_files/authors/DSC_2797_LR_Scott.jpg?h=150&w=150&fit=crop&fp-y=.15)