One For the Bears: Stock PE's Don't Look Cheap

Beyond arguing September downturns or what the VIX may be saying, it’s always good to keep an eye on valuation, even though no single measure tells the whole story. Nevertheless, for the bulls, one has to admit stock PE multiples don’t exactly look cheap these days.

If higher than average multiple collide with earnings disappointment, stocks usualy hit an airpocket; and on a PE basis, we’re at least half way there. Here’s the chart from Bespoke Investment Group.

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