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RWUI - Large-Cap Growth: Brace For Earnings Revisions
Direxion FTSE Russell US Over International ETF Direxion Shares ETF Trust
By Jeff Weniger, CFA
So much for crashes bringing valuations back to Earth.
Here we are in the middle of an economic depression - one that maybe lasts a few months, or maybe one that goes on for a long while - and yet the Russell 1000 Growth Index is still trading for 27 times trailing earnings (figure 1).
Figure 1: Price-Earnings Ratio (Trailing 12 Months)
For definitions of the terms in the chart, please visit our glossary.
Why the robust valuations?
Because Wall Street still hasn't gotten around to looking in the mirror when