In Looking at Stocks, Valuation Is Overvalued

Barely a day goes by of late without someone in the financial media announcing that equities are overvalued and primed for a fall. The most popular article on one of the most popular financial websites recently blared "U.S. stocks will be very disappointing for 10 years." The argument? That on multiple gauges, the current valuation of the market is higher than it was during the vast majority of market peaks in the past.

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