Median NYSE PE At Record Post-War Levels

The median PE multiple on the New York Stock Exchange (NYSE) is at its highest level since 1945, showing broad-based high stock valuations that aren’t as evident when you only look the S&P 500. In fact, median prices are at or near record highs by virtually any measure, which could be just as dangerous to investors as some of the more obvious bubbles in recent years. “Is the current widespread valuation extreme more dangerous than a concentrated extreme simply because concentrated extremes tend to be more obvious and eye-catching?” asks Wells Capital Management chief investment strategist James Paulsen. “A concentrated…