The market is still extremely highly valued
Red is P/E multiples over 20. $Alphabet(GOOG)$ $Alphabet(GOOGL)$ $Meta Platforms, Inc.(META)$
Dark red is P/E multiples over 30. $Microsoft(MSFT)$ $NVIDIA(NVDA)$ $Broadcom(AVGO)$ $Apple(AAPL)$ $Amazon.com(AMZN)$ $Tesla Motors(TSLA)$ $Netflix(NFLX)$
The market is still extremely highly valued.
Remember, 10x returns are often generated by buying stocks at 10-15x multiples. Price matters.
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If you're thinking about risks to the market in 2025 and not thinking about oil, it's a mistake.
Every (normal) modern recession's breaking point was driven by oil prices.
We aren't seeing higher prices yet, but they should be on your Market Risk BINGO card in 2025. $.SPX(.SPX)$ $Micro WTI Crude Oil - main 2502(MCLmain)$
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