Stocks Look Pricey
Saturday, September 13th, 2008The first quarter of 2006 is over. Now is a good time to reflect on stock prices and the opportunities they present.
Bargains are scarce. Equities are expensive. In recent weeks, I’ve heard several fund managers say valuations are still attractive. I don’t agree. Generally speaking, valuations are unattractive. Returns on equity are higher than historical [...]