This Shocking Chart Scares The Bejesus Out Of Bulls
Bulls oftentimes try to discredit current Shiller's Adjusted S&P P/E ratio of 29.20. A ratio that is now on par with 1929 top. They do so by suggesting Gaap/Non-gaap, forward, operating, this and that earnings adjustments.
Well, you can't really talk your way out of the chart above. As it clearly shows, Price/Sales ratio is near an all time high. Definitely much higher than its 2007 market top counterpart.
Good luck explaining that one away.