There's a new paradigm IMO
PE Ratio kind of went out of whack in the 90s and there's a good argument to be made that historical context before then is now meaningless.
I know analysts who still base everything on the 100 year average PE ratio, they have been predicted doom almost non stop for 30 years.
To me, macro economic indicators are what I consider more now. The US economy is simply regular people having money and being willing to spend it, if that is the prevailing condition, corporations will do well. We're in for a bumpy ride due to tariffs and the layoffs they're causing, companies being overvalued in comparison to their earnings is a small factor, but not the main one IMO.
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