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We routinely publish news, information and insights to keep our clients informed while also deepening their understanding of a variety of wealth management topics.

Ask Cadence: Is it possible the rules of the markets have changed and that they can go up for longer than in the past?

By Blog
Anything’s possible, but it’s extremely unlikely that the rules of the game have changed. At the end of the day, asset prices only go as high as people are willing to pay for them. The definition of a bubble is when prices reach levels that don’t seem to make sense, yet people keep buying simply because they feel prices will continue to rise. Rationale for why values are going up gets thinner and thinner. At some point, investors realize that what they’re considering for purchase has an underlying value that’s much less than what the price reflects. Whether this is…
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How Expensive Is The Stock Market?

By Blog
We've incorporated our fair share of complicated charts and concepts into our letters over the months. This one, in our opinion, really keeps things simple. If we’re trying to figure out if the stock market is expensive, doesn't it really come down to affordability for most people? When we look at the average earnings of workers across America - $21.90 per hour - the stock market has never been less affordable. It currently requires 109 hours of work to buy the S&P 500 (assuming one could buy 1 unit of the index at its current level of approximately 2,390). This…
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