Skip to content
Aug 24 2020

Output Gap Adjusted Price/Earnings Multiple

  • Aug 24, 2020

As the S&P 500 reaches a new high, investors are increasingly alarmed by its valuation. And rightly so! Nearly every traditional valuation measure suggests the stock market is trading near all-time record levels. If conventional valuation models are accurate, the stock market appears to have very little upside potential and, ultimately, considerable downside risk. 


For full access, please enter your credentials.

About The Author

James Paulsen / Chief Investment Strategist