crash

Equity prices are at multi-decade highs. As such, Porter predicts, it will take at least a decade for many of today’s S&P 500 members to “grow” into their current valuations.

Fifty-five years ago, Warren Buffett announced his retirement. In 1969, the legendary investor felt he could no longer generate the 30% returns he had been generating. Then things changed…

In today’s Daily Journal, Porter writes that Americans now have more capital allocated to the stock market than ever before. And thus, stocks are now trading at record-high valuations. This has led to one outcome when this has happened in the past… And it’s not a good one.