NEW YORK ( TheStreet) -- I've written countless columns over the past several months indicating that it's been difficult these days to find many stocks that are downright cheap, at least in my view. That does not necessarily mean, however, that the markets are overvalued, per se. In fact, I'm not yet convinced that we are experiencing bubble-like conditions in the equity markets.Now, that may seem to be contradictory, but can be explained by my belief that markets are neither cheap nor expensive. The S&P 500 is trading at about 18 times trailing earnings and 15 times forward 12-month estimates, and those numbers do not seem ridiculous to me.
Market Bubble? Not Based on Valuation
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