The S&P 500’s 25-Year Golden Age of High Valuations Is Over: BofA
The days of high US stock valuations are over, says Bank of America’s Chief Investment Strategist Michael Hartnett. Since 2020, investors have been willing to pay a premium relative to S&P 500 company earnings. So-called price-to-earnings ratios have been elevated thanks to mammoth stimulus efforts amid the pandemic and excitement around artificial intelligence developments. The…
