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Can't put all the valuation blame on mega-caps

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The median P/E of the top 10 stocks is 14.3 points higher than the other 490 in the S&P 500. The top 10's P/E is 2.6 standard deviations above its long-term mean, but the other 490's P/E is 1.8 standard deviations above. Interest rates may determine how relevant valuations are in 2024.

Ned Davis Research | NDR Hotline | Insights | 3X Weekly

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