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...Email: stuart.kirk@ft.com; Twitter: @stuartkirk__...
...Email: stuart.kirk@ft.com; Twitter: @stuartkirk__ This article has been republished to correct a figure in Stuart Kirk’s asset table...
...Or that the S&P 500 has just racked up five days on the trot of all-time highs, despite the fact if you turn over the business cards of almost half of its chief executives they read “Chair” on the other...
...This means that the S&P 500 relies to an even greater extent on hope rather than fundamentals....
...If that dollar had been invested in the S&P 500, the main US index, its value would have multiplied more than 12 times over that period....
...Email: stuart.kirk@ft.com; X: @stuartkirk__...
...Stuart Kirk. . . or rising....
...In contrast, the S&P 500’s price-to-book ratio is close to the record 5 times it touched in 2021 and 2000 (the Nasdaq’s P/B ratio is close to 7.5 times)....
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