I don't know what's in the water over there in Europe but here I thought the US market was expensive... I guess it's all relative. p.s. I disgaree with the valuation on US stocks as there are now about 18,219 ways to measure P/E multiple. But as long as we are incorrectly measuring US and European stock valuation the same way, at least its apples to apples. There is one major difference - earnings in Europe are still forecast to grow versus those in the US - although I find that 13% growth rate quite over optimistic. But even a 0% growth rate would run circles around the U.S.. Via Bloomberg.