&quot;Stock prices are high because profits are high&quot; --
Stock prices are high compared to profits, is the point. Look at the P&#x2F;E ratio of the S&amp;P 500 over time &amp; compare to today&#x27;s 24:1.<p><a href="http:&#x2F;&#x2F;www.multpl.com&#x2F;" rel="nofollow">http:&#x2F;&#x2F;www.multpl.com&#x2F;</a><p>In which years was the trailing P&#x2F;E of the S&amp;P 500 higher than 24?