Stocks are TWICE as expensive as they were 10 years ago.

 

Look, the average Price to Earnings… This is a measurement of how overvalued the market is… Well, even AFTER the double digit tumble last year, the S&P is STILL at nearly record highs...

As you can see - there’s far more room for downside left than upside… Stocks are TWICE as expensive as they were 10 years ago.