[SP500 \(i.e. US\) equities approach unprecedented prices relative to earnings \(40x\). Global market data shows this often is taken as a bad sign for future returns. Of course, in truth, nobody knows nothing when it comes to future returns, but global equities do show a better expected return on this basis \(although arguable still expensive as well\)!](https://preview.redd.it/dx3bwlz0bgeg1.png?width=1400&format=png&auto=webp&s=154b890e92e11e955b1c67071d55a50c3b7d9fae)