Despite my bullish outlook on the economy as a whole, it's impossible to ignore the fact that valuations are getting a little stretched. In the past few months, the price to economic book value ratio of SPY reached 2.6, which is what we consider to be a dangerous level.
Despite my bullish outlook on the economy as a whole, it's impossible to ignore the fact that valuations are getting a little stretched. In the past few months, the price to economic book value ratio of SPY reached 2.6, which is what we consider to be a dangerous level.
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