This article was published by TheNewAmerican.com on Friday, February 12, 2021:
David Rosenberg, 36-year Wall Street veteran and founder of Rosenberg Analysis, said “From my lens we … have a market … that appears egregiously overpriced, overbought and overextended.” When he spoke those words the cyclically adjusted price-to-earnings ratio (CAPE) was at 32.44.
Today the CAPE is closing in on 36. The metric is used by Rosenberg and other Wall Street seers to determine whether the market is overvalued or not. As Investopedia reminded its readers: