S&P 500 price-to-book surpasses dot-com bubble levels by 13 percent.
Pretending valuations don’t warn of risk is willful ignorance. Ladies and gentlemens, we have now surpassed the S&P 500 price-to-book value of the dot-com bubble by a factor of 1.13 times or 13%. This not good.This very bad God bless and godspeed. pic.twitter.com/PnZugz0tgh — The Great Martis (@great_martis) January 12, 2026 The percentage of S&P …