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Goldman: The Median Stock Has Never Been More Overvalued

Goldman: The Median Stock Has Never Been More Overvalued

When Goldman warned on Friday that a "big drop" in the market is possible before the S&P hits the firm's year end price target of 2,100, one of the bearish reasons brought up by the firm's chief strategist David Kostin is that stocks are now massively overvalued. In fact, according to Goldman , while the aggregate market is more overvalued than 86% of all recorded instances, the median stocks has never been more overvalued, i.e., is in the 100% valuation percentile, according to some key metrics such as Price-to-Earnings growth and EV/sales.

This Is Why America Is Bringing "Freedom" To The Middle East

This Is Why America Is Bringing "Freedom" To The Middle East

Submitted by Jim Quinn via The Burning Platform blog,

I can’t figure out why we are so concerned about the Middle East. Can you?

If we are swimming in shale oil and our future is driver-less electric cars, why are we so concerned about the Middle East?

After 15 years in Afghanistan, the opium crop is at record high levels. How could that be? I thought we were there to modernize and democratize their country. At least heroine in the U.S. is now cheaper than a happy meal at McDonalds. 

Recession Watch: Freight Volume Drops to Worst Level since 2010

Recession Watch: Freight Volume Drops to Worst Level since 2010

By Wolf Richter of Wolf Street

Freight shipments by truck and rail in the US fell 4.9% in April from the beaten-down levels of April 2015, according to the Cass Transportation Index, released on Friday. It was the worst April since 2010, which followed the worst March since 2010. In fact, shipment volume over the four months this year was the worst since 2010.

This is no longer statistical “noise” that can easily be brushed off.

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