[quote=pinkflamingo]Thank you so much Rich for moderating this blog. Does anyone know if there is a graph of market cap vs gdp for Europe?[/quote]

Market cap to gdp isn’t a very good measure imo. It’s comparing apples to oranges… stock prices to GDP (which includes all economic activity, not just those of public corporations). So it can be distorted if the ratio of public to non-public companies change, as has been the case. (The result in the case of the US is to overstate valuations).

This website has CAPE (price to 10 year inflation adjusted earnings), which is a better measure than mkt cap to gdp: https://interactive.researchaffiliates.com/asset-allocation

In specific, if you hit the “download” button near the lower right, you can get a spreadsheet with CAPE data for various countries/regions. The site has lots of other good info too.

Looking at the spreadsheet, as of 2/29, the CAPE for Europe was 16.6, and for the US it was 30.7. Both of those have gone down quite a bit since, though!