Russellmania—Poster Boy For The Everything Bubble

It doesn’t get more “irrationally exuberant” than this. Yesterday the Russell 2000 (RUT) closed at an all-time record of 1648—meaning that it was valued at 91X reported net income (March LTM) and that it sported a diminutive dividend yield of just 1.25%. In some sense, of course, the RUT’s stratospheric PEs are fully consistent with current manic stock valuations generally. What […]
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