The US Stock Market has Never been this Expensive – Ferenc Shares Special 250th Independence Day Message!

The US Equity Market Valuation has hit the highest level ever recorded! This combined metric includes P/E, Forward P/E, Shiller P/E, EV/EBITDA, Price-to-Book, Price-to-Sales, Q Ratio, Return on Equity (RoE), and the Warren Buffett Indicator. The US Equity Market Valuation metric has hit the 80% percentile 5 times since 1900. Each time this happened...