Ep. 22 - Stock Valuations Are High and That’s Perfectly Fine
The S&P 500 just posted a total return of at least 25% for the second year in a row. That hasn’t happened since 1998.
Not too shabby.
The downside of this epic rally is that howling about excessive valuations is everywhere. Everyone seems to agree stocks are too rich.
Here’s the deal: Stock valuations are elevated and that’s perfectly fine.
If you’re searching for a constructive argument about US equities, I’ve got you covered.
Today, I’ll highlight several underappreciated bullish macro signals that will continue to support equity valuations. Then, I’ll lay out the best way to outperform…
The skinny
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