Gordian Knot Unwinds in S&P After 4 Years of Lockstep P/Es

  • A measure of dispersion bounces back from record low readings
  • The same thing happened at the end of two other bull markets

A quirk of valuation that has paralyzed stock pickers for four years is loosening its grip, though investors might not like what happens afterward.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.