Granite Group Advisors Blog

Not too much room for error

Written by Granite Group | Mar 2, 2016 2:25:13 PM

Since our post on Feb 12, the markets are up an amazing 8-9%. The S&P is now down about 3% on the year. We have repeatedly spoken about valuation, stating that 14-16 earnings is a more reasonable valuation given the low growth environment. The markets may climb the wall of worry, but at 16.5% times 2016 earnings, we believe there is not much room for error.