Homrich & Berg says S&P 500 valuation hinges on consensus 27.8% earnings growth forecast
Homrich & Berg flagged a widening valuation split that leaves US equities dependent on consensus earnings forecasts. S&P 500 trades at 24.7x trailing earnings versus 19.2x forward, a spread 2.2 standard deviations above the post-1995 average. Consensus expects 27.8% earnings growth; the report warned that missing the b