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S & P500 at 4500! Are you waiting?

Stock valuations are at their highest since the dot-com era, according to Refinitiv, with the S&P 500 trading 19.6x its estimated 2022 profit of $ 191.40. We are now in a good such bubble, but it may take longer to arrive at the same estimate as in 2000. That year, the S&P 500 had a P / E of about 23.5.

Apply the current earnings estimate of $ 191.40 per share and the S&P 500 could go up all the way to 4,500, an additional 20% gain. The S&P 500 has already climbed sharply from March lows and a rise to 4500 would mean it more than doubled, would that be? I doubt very much, but the trend has not yet broken up.

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