The ASX 200 is up a whopping 54% since the trough of the COVID-19 crash in March last year.
And according to Marcus Today director Marcus Padley, incredibly the
“Even ignoring the pandemic, the S&P 500 has returned a compound 20.0%pa since the high BEFORE the pandemic,” he said in his newsletter.
“It is up 29.5% in 1.4 years not including the pandemic.”
The American market, which the ASX 200 often follows, is now trading at its highest price-to-earnings ratio (30.4) since the dot-com boom in the late 1990s.
‘Chickens are for slaughter’
So is it time to pull our money out of shares? Is it all going to come crashing down, as it does occasionally?