Are US equities worth their price?

When a company, industry, or market experiences rapid growth, investors often expect this trend to continue, which leads them to assign high valuations to earnings. However, few companies can sustain earnings growth at an above-average rate over a long period. As a result, these high expectations may not be met, leading to disappointing returns. Additionally, investors are often influenced by biases; they may assume that investments that have historically delivered poor returns will continue to perform poorly, resulting in low expectations for those investments. US equities have seen faster...