The Wall Street bank's Savita Subramanian prefers the equal-weighted S&P 500 over the cap-weighted benchmark.
It's hard to imagine much more upside for the current stock market, according to Bank of America. "The S & P 500 is statistically expensive on almost every metric," Savita Subramanian, the firm's equity and quant strategist, wrote Friday. "But this is hardly new news. On basic math, today's price to normalized EPS ratio of 27x implies 1% price returns over the next decade.
Perhaps as a result, she said she will stick to the equal-weighted index over the cap-weighted S & P 500 as an investment call, given the "pockets of euphoria" around growth expectations for the " Magnificent Seven " stocks, as well as greater inflows into a broader array of stocks expected in President-elect Donald Trump's second term. .
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