>Take a look at S&P500's profit margins. They are at record highs and not coming down as economics teaches us, meaning new entrants are not coming into the mark

>Take a look at S&P500's profit margins. They are at record highs and not coming down as economics teaches us, meaning new entrants are not coming into the market. It's not possible for this stuff to adjust instantaneously. The economy takes a long time to move. Profit margins are cyclical; they will decrease as inflation creeps in and wages and capital costs rise at a rate higher than prices can increase. Input costs are extremely low right now. Take a look at the data; we have 10 years of above average margins following 10 years of below average margins.