Warren Buffett's "Best Single Measure" of Stock Valuations Just Made History -- but Not in a Good Way
The Oracle of Omaha's time-tested valuation tool portends trouble for Wall Street.
For more than two years, Wall Street has been a stomping ground for the bulls. Since the curtain opened for 2023, the mature stock-powered Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and growth-inspired Nasdaq Composite (NASDAQINDEX: ^IXIC) have respectively rocketed higher by 34%, 58%, and 88%.
Investors haven't had to dig too deeply for catalysts behind this rally. In no particular order, the current bull market owes its thanks to:
Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.
