As we settle into 2018, I’ve been giving some consideration to valuation. Specifically, what we can expect for the year ahead. Having now had the opportunity to review the returns obtained by fellow investors it seems clear 2017 was a very good year indeed. My 42.72% return, as outlined here, was, for me, exceptional and unlikely to be matched this year.
But with such a large run-up last year, are equities expensive? Are we, dare I say it, approaching a bubble?