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Are Equities Overvalued? Are We in a Bubble?

It is a mistake to equate the two questions. There is concrete evidence that equities are overvalued, mainly due to the monetary policies of the Fed and the world’s other major central banks.  And there are clearly some stocks that are in bubble land (those that have stratospheric P/E ratios). There are ongoing massive liquidity injections by the Fed ($55 billion/month), the Bank of Japan, the Bank of England, and, …Read More