The Market Is a Bit Too Sure of the Fed

Published on September 2, 2025

The market’s attention usually seesaws between corporate fundamentals and monetary policy.

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Crestmont P/E and Market Valuation: August 2025

September 2, 2025
Based on the August S&P 500 average of daily closes, the Crestmont P/E of 42.2 is 177% above its arithmetic mean, 203% above its geometric mean, and is in the 100th percentile of this 14-plus-decade series.

How Can an Economy This Good Feel This Bad?

September 2, 2025
On paper, these are good times for the US economy. The latest GDP numbers show growth was at 3.3% in the second quarter. Business investment is up. The unemployment rate remains low, and the inflation rate is reasonable.