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How Overvalued are Stocks?

Stocks have been on one heck of a run since this bull market began in March 2009. At present, and throughout this bull market, there have been those/many actually calling for at minimum a selloff, or something far direr. When it comes to investing monies for the future, using history as a guide is a good place to start. Here’s a closer look.

Operating earnings per share are forecasted at $157 per share for 2019; at current levels, the S&P 500 carries a 20.8 price-to-earnings ratio. Since 1988, the index average has been 18.9, according to Dow Jones Indices. The market is 10% overvalued based on 2019 numbers. So, what will earnings be in 2020? Remember, stock prices are often forward-looking.