Are There any Cheap Stocks Left?
With stocks rising over the past 14 of 15 weeks, we think it’s fair to ask if stocks have run up too fast, are too expensive, and if this means we’re ripe for a correction. In this week’s update, we are going to dissemble the S&P 500 and determine what we believe is driving the rally, what areas are expensive, and which areas are cheap and may rally, even if the expensive areas fall. We will also review the credit markets and try to glean where things stand in China and whether those stocks can offer value for long-term investors.
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