10/20/2024, 06:15 PM UTC
可能是过去40年来最昂贵的股市This May Be The Most Expensive Stock Market In 40 Years
1. 标普500指数历史上估值较高，市盈率和市销率都较高，表明指数基金投资者的未来回报可能较低。2. 考虑到增长率，当前的市盈率和市销率超过了互联网泡沫和COVID泡沫时期的水平。3. 股息收益率接近历史低点，表明市场相对于历史平均水平以及10年期国债收益率被高估。4. 股票选择至关重要，因为高估值意味着未来回报可能较低，尤其是对于长期持有型投资者和指数基金参与者。1. The S&P 500 is historically expensive with high PE and price-to-sales ratios, suggesting lower future returns for index fund investors. 2. Current PE and price-to-sales ratios exceed those of the dot-com and COVID bubbles when adjusted for growth rates. 3. Dividend yields are near historical lows, indicating the market's overvaluation compared to historical norms and the 10-year Treasury yield. 4. Stock selection is crucial as high valuations imply lower future returns, especially for buy-and-hold investors and index fund participants.
---
本文由大语言模型（LLM）生成，旨在为读者提供半导体新闻内容的知识扩展（Beta）。
