....this does not matter until it does. Important to know Where We're At.
US equity valuations are still high relative to the macro environment, Goldman says. Measured by gap between actual Shiller cyclically-adj S&P 500 P/E ratio and the “macro-consistent” Shiller P/E predicted by Goldman macro model of equity valuations, US stocks are 40% overvalued.
https://x.com/Schuldensuehner/status/1781432055559025011
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Its Over, page-21393
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