“Earnings” matter… until they don’t. What’s wrong with these two charts?
EBITDA -7% from previous peak…
S&P 500 nominal price +15% from previous peak…
Still think stocks are “cheap” compared to the last cycle?
Charts: Bloomberg
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/M7FaCMLWD4M/story01.htm Tyler Durden