Just Another Bubble Chart
Everyone loves a good "How expensive is the US stock market?" chart. And God knows you can conjure plenty of them these days.
On most (or a lot of) key valuation metrics, there are only two comparable periods to the current melt-up: The 2021 "everything bubble" and the dot-com boom in the late 1990s.
Arguably, "this time's different." Cue the ominous music that's supposed to accompany the most dangerous phrase in markets.
The mega-cap leadership in the US exudes the characteristics you want i