About this episode
The big things you need to know:
- First, trends in investor vibes were mixed last week, both in our quant work as well as last week’s investor conversations.
- Second, the median forward P/E for the S&P 500 has fallen sharply but remains well above average. We’ve also not yet seen significant adjustments to consensus EPS forecasts, which seems likely to keep confidence in P/E analysis low for now.
- Third, Small Caps (which have seen a greater degree of valuation correction) have continued to outperform Large Caps.
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