2019 ROI First Quarter Edition 2019 - HIS Capital Group | Page 8

Part of the net worth picture is explained by healthily valued equity markets. One of Warren Buffet’s favorite
indicators – stock market capitalization to GDP is close to its all-time high reached in 2000 of 150%.
The sky-high equity prices are understandable given the strength of the corporate profits. Of course, as shown
here, corporate profits still have some upside, which would support the view that the economy can continue to
expand through at least 2020.
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