First sorry I cannot give a link to this data. It is from a News letter Morgan Stanly sends out monthly to their clients and it is behind a fire wall. Think about Lynas with a PE of 80 to 90 as you read this. Rember in any period of decline Stocks with high PEs fall faster and further than the average. I have underlined the a few key points this was not in the original. DYOR and form your own opinions about risk in Lynas.
The third quarter ended with the S&P 500 Index up more than 20% on the year and 5% on the quarter, and within a few points of the 5,767 all-time high—a level that, based on consensus estimates, has it selling at a rich forward P/E ratio of 22.3 times. But after a first half featuring a great deal of anticipation around an impending Federal Reserve easing cycle and performance concentrated in a handful of megacap tech names, the third quarter marked a notable departure. Not only did the Nasdaq Composite Index and the “Magnificent Seven” peak on July 10, as Fed cuts finally came into view on improving inflation, but since then, market breadth has been excellent, with nearly three-fourths of all stocks beating the capitalization-weighted S&P 500, driving outperformance of the equal-weighted version. Enthusiasm for an “immaculate soft landing,” or a nonrecessionary slowing
LYC Price at posting:
$7.75 Sentiment: Sell Disclosure: Held
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