Wall Street's Bull Market Is Knocking on the Door of Unwanted History
With this being said, Wall Street's bull market is on the cusp of unwanted history. Arguably, the best valuation tool that allows for the clearest apples-to-apples comparisons is the S&P 500's Shiller price-to-earnings (P/E) ratio. You'll also find the Shiller P/E referred to as the cyclically adjusted P/E ratio ( CAPE ratio ).