Based on BofA's 20 most widely used valuation metrics, the S&P remains substantially overvalued according to 18 of 20, the only exceptions being FCF, and relative to bonds where yields are depressed thanks to endless central bank monetization backstops.
13,965
http://www.zerohedge.com/news/2017-08-17/sp-500-now-overvalued-18-20-valuation-metrics

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.