21 is not a bargain, look at bank stocks if you think a 21 p/e at stable income is a bargain.

The US stock exchange is completely inflated, but the inflation keeps new money from across the globe flowing back. As the 7% annualised gains in S&P500 are among the top of the world, but the entire growth is based on a perception people will continue to flow money into the ponzi scheme rather than underlying value.

Novo Nordisk, trades at 9.78 P/E. That's a stable profit stock.

Barclay's, trades at a 8.32 P/E. That's a stable profit stock.

American stocks are just inflated through the fucking roof.

Since they started scraping user data and selling ads

One reddit of money.

It's a whole lot of Reddit Gold, I'll tell you that much

A decade, and more, ago it was taught that a company with a P/E under 15, with a few other fundamentals checked, was a good investment for a growth stage company.

What? No. It was a good investment for a stable blue chip company.

Growth stocks are always going to be on the high end. 30-50 p/e is very normal, especially with a bullish sentiment behind a growing company. 100 p/e wasn't outrageous if a company was growing rapidly.

What's surreal about firms like Tesla is that they're already functionally blue chip. They've done their growth phase and largely saturated their markets. But they value as though people anticipate Tesla to eclipse Toyota in the next twenty years, absent any evidence to that effect.

None of that matters anymore.

There are a few outlier firms outperforming the pack - the MAG7, specifically - that are trying to claim growth stock status on the grounds that tech infrastructure consumption is preparing to increase rapidly.

Whether that pans out remains to be seen.