At around 4,516 (today the S&P closed at 4,259) the S&P 500 is priced at 18.86x forward earnings. As seen below, the 20-year average is 16.77x, and 20.07x would represent a full standard deviation above average. The earnings per share forecast is about $240 for the S&P in 2024 as seen in the chart below….
Category: Wisdom
With the presidential election still too close to call, we wait. While we wait, let’s think about what we do know, and what we expect given the current information. What we know: ONE: Policy has a greater impact on markets and economies than politics does. TWO: Republicans will probably maintain control of the Senate. This means there will most…