‘Egregiously Expensive’ Stocks Shouldn’t Keep You Up At Night, Subramanian Says

The S&P 500's "egregiously expensive." That's the bad news. The good news is, you shouldn't necessarily worry about it. So suggested BofA's Savita Subramanian in a Wednesday note. "It’s hard to be bullish based on valuation," she conceded, addressing widespread concerns that US equities are either in, or entering, bubble territory thanks in no small part to "Magnificent 7" performance. That theme (the Magnificent 7 bubble theme) is ubiquitous to the point of exhaustion across analyst c