Quote:
Originally Posted by reckless
Same here. I was on the floor in 1987 ... that was scary. This is ... unbelievable.
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Why? The market's had a huge run over the past 15 months. Even with this modest correction, the S&P 500 trades at 17.4x 2018 estimated earnings (using the higher top down #s). If you think rates will stay here for the next few years, I guess that multiple makes sense. If you think rates might move up 100 to 150 bps, the market still seems fully valued. I realize you buy individual names, so none of this may matter to you.
