# Valuation is a thermometer, not a clock

Page: https://stenobird.com/podcast/the-living-market-podcast-5452426/valuation-is-a-thermometer-not-a-clock
Text version: https://stenobird.com/podcast/the-living-market-podcast-5452426/valuation-is-a-thermometer-not-a-clock.md
Podcast: [The Living Market Podcast](https://stenobird.com/podcast/the-living-market-podcast-5452426)
Published: 2026-07-23T21:29:31+00:00
Episode link: https://thelivingmarket.podbean.com/e/valuation-is-a-thermometer-not-a-clock/
Audio file: https://growx.podkite.com/https/PKgih3hzno/mcdn.podbean.com/mf/web/x8defdqfsa7v57ui/Living_Market_EP217_ENGbo104.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-living-market-podcast-5452426/episodes/valuation-is-a-thermometer-not-a-clock
Duration seconds: 416

## Resource

Astronomers predicted the April 2024 solar eclipse to the second. Not one of them can tell you what the S&P 500 will do next Tuesday. That gap, says Philip Petursson, Chief Investment Strategist at IG Wealth Management, is the point. Right now, the CAPE ratio, a widely followed measure that compares the total value of the U.S. stock market against the size of the U.S. economy, is at an all-time high, and the headlines are getting louder. Philip explains why that number is less alarming than it sounds, why measures like this are reliable guides for long-term returns but almost useless when predicting short-term market movements, and what valuation is genuinely useful for.

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## Transcript

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