Markets hitting highs
Stock Markets had been smashing record high lately. Nasdaq topped 5,000 level for the first time since Mar 2000. Apple’s market cap hit US$775 billion. The Dow and S&P 500 also routinely hit highs for the past year. The Japanese Nikkei average closing above 19,000 for the first time since April 2000. Over at Britain, the country’s benchmark FTSE 100 index also surpassed the peak set during the height of the dot-com bubble. Back home, STI crossed 3,400 points since the start of the year, something rare since GFC.
Of course back in 2000, some companies in Nasdaq had ridiculous PE of 100x, but today stocks are expensive but not outrageous. E.g. Apple is only trading at ~17x, holding on to US$175 bil of cash. In Singapore STI is trading at undemanding of ~14x.
Invest or Not?
Having collected my bonus end last month, I am ......