Pretzel Logic

Should You Go Long at Volatility Extremes? Nikkei As Example

Who on earth told you we are at historic low valuations? Not even CLOSE.

Using earnings per share over the trailing 12 months, the current PE ratio for the S&P 500 index is 18:1. Only 21% of the months since 1871 have had higher PE ratios than this.

We're closer to historic high valuations than we are to historic low valuations.