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BofA Warns of Dotcom-Like Valuations as S&P 500 Price-to-Book Ratio Hits 5.3
BofA Warns of Dotcom-Like Valuations as S&P 500 Price-to-Book Ratio Hits 5.3
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BTCCSquare news:
Bank of America strategist Michael Hartnett flags concerning parallels between current equity valuations and the dotcom bubble peak. The S&P 500's price-to-book ratio now exceeds March 2000 levels at 5.3, though structural differences in bond allocations, AI adoption, and currency dynamics may prevent history from repeating.
"It better be different this time," Hartnett cautions, noting international stocks and bonds could benefit if Fed rate cuts weaken the dollar. The firm's Bull & Bear Indicator sits at a neutral 6.1, suggesting tempered Optimism among investors.
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