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re: A 32-year market vet warns the S&P 500 is set to fall 50% - 70% in the years ahead
Posted on 4/2/24 at 10:14 am to Black n Gold
Posted on 4/2/24 at 10:14 am to Black n Gold
quote:
Correct because the most profitable names with the largest market caps are the only shares with enough liquidity to handle the volume of buying and selling by passive funds and market makers hedging options books. It's not your father's market where P/Es drive transactions. ETA: These companies also have the largest buyback programs.
P/E is P/E you can dress it up, but you can’t change market fundamentals.
1
Posted on 4/2/24 at 11:06 am to Warfox
P/E is the most flawed valuation metric because of the dynamics I just explained. The floats aren’t even remotely similar to even the 90s.
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