S&P 500 closed 2019 at a new record Price to Sales and EV/EBITDA. Previous peak in 1999 was equally exuberant but resulted in a lost decade for most equity markets (10-yr negative returns)
*S&P 500 RALLIES 29% IN YEAR FOR BEST ANNUAL GAIN SINCE 2013
*S&P 500 ADDS RECORD $5.9 TRILLION IN VALUE IN 2019
*NASDAQ 100 SURGES 38% IN 2019 FOR BEST GAIN IN 10 YEARS