Indeud…
“A long-term chart of the S&P 500 would show a stock market that’s going up and sitting near all-time highs.
But this isn’t the case when you price the S&P 500 in gold.
Citi’s Tobias Levkovich includes this chart of stock priced in gold. Levkovich actually uses the chart to make the point that stocks are attractive relative to gold.
From his latest note to clients….”
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