Chris Dillow 

Underpriced US stocks

Chris Dillow

Chris Dillow
Underpriced US stocks

Are US equities undervalued? It seems like an odd question, given that the cyclically adjusted price/earnings ratio is now so high: at 29.7 it is more than 50 per cent above its post-1949 average of 19.4. From another perspective, however, the market is indeed cheap.

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