S&P 500 Overvalued By Nearly Any Metric: Goldman

Equity markets are overvalued by any measure and profit growth will need to catch up with stock price appreciation, says Goldman Sachs Chief Equity Strategies David Kostin.  In comments sure to rile market bulls, the Goldman Sachs US Weekly Kickstart Portfolio Strategy Research called the S&P 500 (INDEXSP:.INX) “slightly overvalued.” S&P 500 valuation high from multiple perspectives: Goldman “S&P 500 (INDEXSP:.INX) valuation is lofty by almost any measure, both for the aggregate market (15.9x) as well as the median stock (16.8x),” the report said. “We believe S&P 500 trades close to fair value and the forward path will depend on profit…