US Stocks May Be At Their ‘Most Expensive Since WWII’
According to a report by Jim Paulsen, Chief Investment Strategist at Wells Capital Management, the median price-earnings ratio of stocks on the New York Stock Exchange is slightly higher than 20 times — making it the most expensive it’s been since World War II by his measure, CNBC reported.
“In the late 1990s, surging technology stock prices caused the overall S&P 500 P/E multiple to reach record highs even though the median stock’s P/E multiple never became excessive,” Paulsen explained.
Photo Credit: Wells Capital Management
What you have to consider, he notes though, is that history shows when this has happened in the past, the overall market has suffered either an outright bear market or a correction.
What implications will this have for the near future? Head over to the full report over at Wells Capital Management for more of Jim Paulsen’s analysis from an economic and market perspective.
(Photo c/o Yahoo Finance)
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