China's stocks are seriously expensive when compared to other markets

"The Shanghai Composite has jumped 140 percent in the past 12 months through Tuesday, the most among benchmark global indexes tracked by Bloomberg, as novice investors piled into stocks on bets gains will continue. Record margin debt has fueled the advance." (Bloomberg) On a median of projected 12 months Price to Earnings, China's stocks are now more than 3 times more expensive than all other major markets. How long can this go on?


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