Compared to historical norms, for much of the last 30 years valuations in the U.S. stock market have remained persistently high. Only rarely has it been considered cheap and many investors have purchased stocks that, by conventional metrics, were either uncomfortably or absurdly expensive.
Jun
01
2020
Two Conundrums? A Single Answer!
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![James Paulsen / Chief Investment Strategist](https://leuthold.imgix.net/leutholdgroup.com/site_files/authors/DSC_2988_LR_Jim.jpg?h=150&w=150&fit=crop&fp-y=.15)