Goldman: Sell Right Now And Go Away For The Next 365 Days
by Tyler Durden
ZeroHedge.com
Aug 7, 2016
“In the US, muted growth will be offset by P/E multiple contraction, suggesting a flat US equity market in the next 12 months. Stock valuations stand at historical extremes. The median trades at a forward P/E of 18.2x, ranking in the 98th percentile since 1976. Rising wage inflation will weigh on profit margins and limit further P/E expansion. Expectations of additional Fed tightening by year-end represent another headwind to higher equity prices”
The Rest…HERE
