The Last Time Stocks Were This Expensive Was… March 2000

Phoenix Capital Research's picture

Over 99% of investors continue to live in delusion.

That delusion is that stocks are NOT in a bubble.

They are. In fact, it’s arguably about to become the biggest stock bubble in history.

According to John Hussman, stocks have been more expensive based on median valuations only ONCE before in history.

That was the week of March 24 2000… right around the absolute PEAK of the Tech Bubble.

Here’s Hussman’s chart:

Here’s what came next for stocks…

A Crash is coming…

And smart investors will use it to make literal fortunes from it.

We offer a FREE investment report outlining when the market will collapse as well as what investments will pay out massive returns to investors when this happens. It’s called Stock Market Crash Survival Guide.

Today is the last day this report is available to the public.

We extended this offer by one week based on the market's extreme valuation.

But this is it. No more extensions.

To pick up one of the last remaining copies…

CLICK HERE!

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

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francis scott falseflag's picture

 

The difference between March 2000 and today is that the Biggie Boiz rang the 'time-to-take-a-profit' bell at the top.

The top being > greater than NASDQ 5000.  They can't do it these days without running a 200 car freight train down

the mountain side with no brakes.  

 

We better wait and see if DOW 30,000 isn't a better place to ring that bell.

 

Oh, wait a minute ....

 

Anon2017's picture

INTC is selling for less than 16x earnings and is trading at less than 1/2 its 2000 peak vs. AMZN at about 188x earnings and trading at about 14x its 2000 peak. 

SummerSausage's picture

Most of the rally is going into Facebook, Amazon, Netflix and Google.  If they implode what happens? They hardly employ anyone and those they do are confined to bubble Silicon Valley.  They keep most of their profit overseas.

Who cares?

Stocks of companies who make things and employ people are up on profitability.  They'll weather the storm after a needed pullback.

Osmium's picture

Graham Summers

Chief Market Strategist

Phoenix Capital Research

 

Beginning to think Graham is the ONLY "Market Strategist" at Phoenix Capital Research.  If there were other "Market Strategists" by now they would have told Graham to STFU you have no idea what you are talking about.

BandGap's picture

Au contraire, he knows what he is talking about. He's just looking for the right time to express himself.

Squid Viscous's picture

we need AOL/Time Warner moment...

maybe Apple will buy Tesla, and Tim Cock can jerk off over pics of self driving cars with little boys looking out the front window.

the end.

ReturnOfDaMac's picture

Good old Graham, always good for a chuckle.  Charts are valueless today. That data was produced in an era of human traders. Todays trades are algo's front running central banks. Charts are comparing fruits to vegatables.  Central banks are in control and markets won't crash unless they want them to and right now they don't want them to.

bobert727's picture

Eventually you will be right.....it's all about timing....