It’s been interesting to see the comments on Seeking Alpha made in reaction to the early round of 1Q17 results from U.S. banks. We’ve certainly got a market with forecasts of recession mingling with optimism that the Trump trade will re-emerge once the great man has done whatever he has to do in the meantime.
One theme we’ve seen, exemplified by JPMorgan (NYSE:JPM), is buoyant....More>>>
As we all know, stock valuations reflect the prevailing economic weather and corporate-profit forecast. Sunny conditions give investors confidence to buy, which generally means expensive stock prices. Right now, the S&P 500 is trading at 17.0 times expected earnings, almost 20% above the 10-year average of 14.3. Some highfliers have ascended to nosebleed levels, notably names like Netflix (Nasdaq:....More>>>