VUG - VTV: Value Investing Is Looking Green But Only In The Right Places
By historical standards, large-cap equities have hardly been as expensive as they are today. The S&P 500 currently trades at a weighted-average "P/E" of 30X which was only beat by the 1998-2000 technology bubble period. Similar to then, technology stocks carry the highest valuations and arguably the most extreme investor exuberance. With many technology stocks trading at 10X+ sales, it seems the sky is the limit. Of course, recent negative volatility in the NASDAQ signals that we may have managed to reach the sky.
If history repeats, the technology-centric NASDAQ and the high-valued companies in