S&P 500 Bubble Fears Push Investors Toward Chinese Tech, UK Equities, And Energy
The US stock market is expensive by almost any measure, with the S&P 500 (^GSPC) hovering near all-time highs and valuations stretched across multiple indicators. Analyst Joachim Klement of Panmure Gordon argues the situation may be worse than it looks, with the cyclically adjusted price-to-earnings ratio potentially at never-before-seen levels. The CAPE ratio, which compares…