People often compare the price of a stock relative to its earnings. Today, we think it makes more sense to compare stocks to the amount of money outstanding that can purchase it- i.e., we don’t think there’s a bubble (yet)!
Is the US stock market in a bubble?
US CPI Update
US CPI once again came in at 1.4%, far from market expectations of a booming inflation environment. In fact, median CPI was actually negative!