S&P 500 Price-to-Sales Ratio Highest Since Dot.com Bubble – Confounded Interest

The S&P 500 Index is on the verge of setting a new high for overvaluation. Its trailing 12-month price-to-sales ratio surged to 2.25 on Monday, the highest since the dot-com era. If you think it’s just the tech giants skewing the number, think again: The median PSR for index members is more than twice the level of the late 1990s.

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