Stocks are the most overvalued since at least the 1980s based on one measure
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2020.
Brendan McDermid | ReutersWhat investors are willing to pay for stocks relative to their long-term earnings growth expectations is at an all-time high, according to Bank of America.
The price-earnings to growth ratio, commonly called the PEG ratio, sits at 1.8, its highest level since the firm…