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The Contrarian Edge With Vitaliy Katsenelson

Lead-Lag Live

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Is the Stock Market Going to Be Overvalued?

The S&P is trading about 19 times earnings. That's not insane, but it's 30 or 50 times earnings if you normalize for 11.5% profit margins. Profit margins have benefited from interest rates went up and globalization is going the other way. And therefore, when I look at the stock market overall today, it's not cheap.

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