🚨The US stock market has rarely been this expensive

The Shiller P/E ratio sits at one of the highest levels in history

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The Shiller P/E ratio on the S&P 500 is currently higher than it has been 96% of the time in history, making the market extremely expensive by long-term standards.

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The price to average of the last 10 years of earnings, adjusted for inflation, is 38x, the 2nd-highest level since the Dot-Com Bubble.

This suggests that future market returns will be below average over the next few years.

US stocks continue to underperform the rest of the world

Time for an asset class performance review as of the first half of 2025

globalmarketsinvestor.beehiiv.com/p/us-stocks-continue-to-underperform-the-rest-of-the-world

⚠️Portfolio performance review as of June 2025

Assessment of my long-term investment portfolio as of June 2025

globalmarketsinvestor.beehiiv.com/p/portfolio-performance-review-as-of-june-2025

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