Is the market cheap or expensive? The chart above tells the story based on Morningstar’s fair value estimates for individual stock. The graph shows the ratio price to fair value for the median stock in the selected coverage universe over time.
Retired investors would be well advised to check on the valuation of stocks (including sector valuations) before trading.
SOURCE: http://www.morningstar.com/market-valuation/market-fair-value-graph.aspx
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