JMF - Why Now Is The Time To Load Up On MLPs And 3 'Strong Buys' In 2019

The U.S. stock market’s performance over the past decade has been very impressive, posting total returns of over 200%. Over the past three years alone, SPY has returned nearly 50%, an astonishing figure that is roughly double historical averages.

Following the large gains of recent years, the valuation multiple of the S&P 500 (SPY) has expanded close to all-time highs with a P/E ratio of over 20 - up to a 25% premium to its historical average despite being in a late cycle economy:

Source

You will note from this chart that every