Browse Stacks: Analytics: Fundamental: Screen-Shot-2020-06-24-at-12.08.19-PM-1024x740.png (1024×740)

Screen-Shot-2020-06-24-at-12.08.19-PM-1024x740.png (1024×740)

So if we normalize profit margins (hat tip, John Hussman), we can see that stock prices today are more expensive than they were 20 years ago at the peak of the Dotcom mania. It turns out that the current disconnect between stock prices and sustainable profits is, in fact, greater than anything we have seen in modern history.


No comments yet.