Stocks May Not Be Cheap Enough Yet – and Here’s Why

According to Michael T. Darda, Chief Economist for MKM Partners LLC, stock analysts have overestimated earnings by an average of 30 percent to 35 percent in the last three recessions. For millions of investors who use low P/E ratios as a litmus test for selecting stocks, that’s got to be a rather unpleasant shock.

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