The S&P 500 trades for 14.1x earnings after more than doubling since March 2009 to an...

|By:, SA News Editor

The S&P 500 trades for 14.1x earnings after more than doubling since March 2009 to an almost four-year high, but Bloomberg calculates that valuations are lower than at all 34 peaks since 1989. “Stocks have just gotten too cheap," ING's Paul Zemsky says. After worrying about a Chinese hard landing, a U.S. double dip and a disintegrating Europe, "the worst risks have passed."