The Big Theme 

US too big to exclude despite high valuations

US too big to exclude despite high valuations

Earlier this month the S&P 500, an index of the 500 largest publicly traded companies in the US, hit another record high. When a market reaches such levels it can be an indication that it is expensive, and analysts and advisers have been concerned about the US market in this respect for a few years. Hitting record highs could also mean that a market doesn't have much further to run and could be about to embark on a downward trend. So does this mean you should avoid or reduce exposure to US equities for fear of a crash?

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