原文標題：
JPMorgan (NYSE:JPM) Warns Investors to Expect Lower Stock Market Returns
原文連結：
https://tinyurl.com/5e55h3ht
發布時間：
224/09/18
空
原文內容：
Analysts at JPMorgan Chase , the world’s biggest bank, are warning investors to expect lower stock market returns over the next decade as high-flying technology stocks come back to earth.
Analysts at JPMorgan Chase , the world’s biggest bank, are warning investors to expect lower stock market returns over the next decade as high-flying technology stocks come back to earth.
The analysts point out that, over time, stock valuations revert to the mean, which should translate to lower returns for investors in the coming years. With a current trailing price-to-earnings (P/E) ratio of 23.7 times, the S&P 500 index is about 25% more expensive than its 35-year average of 19 times.
心得/評論：
照這樣推論，過去40年市值都高估了？
接下來如果要繼續推升估值要看後續的生產力循環被什麼帶動上去，不然還是會均值回歸吧