Why does the median S&P 500 stock now look relatively cheap? It’s solely because the asset to which it’s compared—the cap-weighted S&P 500—is back near valuation levels only seen during full-blown bubbles. As of September 30th, 50 of the 500 index members traded above 10x sales, a figure considered ludicrous only five years ago.
Oct
05
2024
It’s All Relative
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