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Irrational Exuberance Redux
08-20-2016, 09:43 AM,
#1
Irrational Exuberance Redux
Irrational Exuberance Redux

By John Authers Markets are extravagantly confident that brokers are too bearish, and that their profit forecasts for US companies are too low. The multiple of 18 times next year’s projected earnings at which the S&P 500 currently trades, according to Bloomberg data, allows little other interpretation. It is at its highest since 2002, outstripping any…


http://davidstockmanscontracorner.com/ir...nce-redux/
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