Are Stocks Cheap Or Expensive Right Now? Maybe Neither
Forget, if you can, the day-to-day craziness in the stock market. Here’s a broader question: After the big declines of the past several months, are stocks cheap? Are they still expensive?
By one measure, stock prices are not particularly high or low — they’re valued very close to their 50-year average, as Jason Zweig pointed his latest WSJ column.