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Double-digit US stock returns are in the past, bubble or not

The S&P 500 looks healthier today than during the dot-com boom, but valuations still point to a subdued run over the decade ahead

    • The market today is not only cheaper than it was at the dot-com peak, but it is also of higher quality.
    • The market today is not only cheaper than it was at the dot-com peak, but it is also of higher quality. PHOTO: REUTERS

    Nir Kaissar

    Published Wed, Jun 19, 2024 · 05:00 AM

    THERE’S a lot of bubble talk around US stocks.

    The market has been on fire in recent years. The S&P 500 Index has more than doubled in value since bottoming in March 2020 on Covid fears. It’s also up 14 per cent a year since 2010, including dividends, nearly five percentage points a year better than its long-term annual return.

    No wonder investors are throwing around the “B” word.

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