This may be the worst chart ever for investors in US assets...
Image: US assets remain expensive, even after 2025 selloff https://substack-post-media.s3.amazonaws.com/public/images/4644809f-0147-4736-9bd9-ee95a4e0d382_1240x815.png
Would never buy because something is "cheap" or sell because something is "expensive", but as the technicals right now are unfavorable and Trump seems intent on continuing his tariff policy, this chart does not bode well for US assets
indeed, valuations are a highly important factor, but only one of the big 5 (value, cycles, monetary, psych/flow, techs)
I concur, that's a valid observation, precisely.
Image: US assets remain expensive, even after 2025 selloff https://substack-post-media.s3.amazonaws.com/public/images/4644809f-0147-4736-9bd9-ee95a4e0d382_1240x815.png
Would never buy because something is "cheap" or sell because something is "expensive", but as the technicals right now are unfavorable and Trump seems intent on continuing his tariff policy, this chart does not bode well for US assets
indeed, valuations are a highly important factor, but only one of the big 5 (value, cycles, monetary, psych/flow, techs)
I concur, that's a valid observation, precisely.