US STOCK MARKET HAS NEVER BEEN SO EXPENSIVE
The US stock market P/E ratio is now nearly 60% higher than the MSCI World ex-US, the most ON RECORD. At the same time, the US accounts for 74% of the MSCI world market capitalization, also a new all-time high.
It won't last forever. https://x.com/GlobalMktObserv/status/1856043909266145526
Nvidia's total value, $3.65 trillion, is within a trillion dollars of the total value of Japan's Nikkei 225 Index, which itself is valued at $4.65tn. This is no small feat, as Japan is the second-largest stock market in the MSCI All Country World Index (ACWI). https://x.com/JeffWeniger/status/1856091105349235012
...when the market basked with exuberance ignores valuations, the reckoning is not far.
