Lex – more bun than burger again this morning

Financial Times  subscribers deserve more analysis and reflection from the paper’s lead commentator than another sterile discussion about the level of the S&P .  Today Lex states that the S&P is too high. “valuations look toppy indeed”.   The column supports this view with references to the current S&P constituents average percentage profit levels, which at about 35% are high compared [...]

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