CHART OF THE DAY: One Huge Reason The Stock Market Isn't Cheap...

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This is one way of measuring the S&P 500 we haven’t thought of before.

From Naufal Sanaullah’s latest market overview, this chart from shows (obviously) how many hours you have to work to buy the S&P. While obviously this measure has improved compared to recent peaks, it’s still WELL above historical standards. Some combination of a falling market or more robust wages is needed to get the number back into line.

chart of the day, moneygame, hours worked to buy s&p 500, nov. 14 2011

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