Скачать или смотреть Cash Is King!!

As this chart shows, Ned Davis Research noted the relationship between the S&P 500 earnings yield relative to cash yields, and found that the stock market is the most overvalued since following the dot-com bubble crash.

Essentially, the S&P 500 earnings yield is the reciprocal of the price-to-earnings ratio and can help you understand how much company earnings will be received for each dollar invested in the market.

And with the Federal Reserve's rate-hiking cycle, the view has drastically altered the valuation perspective.

However, it's not that stocks have soared to unrealistic heights, but compared to cash, they don't appear as valuable since investors can earn more than 5% on their cash with selected certificate of deposits.