The S&P 500 has delivered extraordinary gains since 2009. But there is one chart that should have every U.S. equity investor furrowing their brow.
S&P 500 Valuations Send a Warning Not Seen Since the Dot Com Peak
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Even after adjusting for the vast expansion in U.S. money supply, the S&P 500 is valued near its 2000 Dot Com peak. AI may fulfill its promise, but with other major valuation measures also flashing warnings, investors must ask how much future success is already priced in.