SPY is overvalued due to an AI bubble inflating earnings; fair value is ~3,000.
Bearish
“above 5%... means, much more work for me...”
Value Investing with Sven Carlin, Ph.D.Published Sep 15 · 2 passages
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The S&P 500 is unaffected because it is in an AI bubble.
Without this AI bubble, S&P 500 earnings would not be at 300 because those are fake given the AI situation, the entropic adjustments, open AI. Let's say those with a fair recession would be at 200 now times a fair P ratio of 15, which is the historical average. The S&P now would be at 3,000.
What this channel has said about $SPY
Value Investing with Sven Carlin, Ph.D. has 2 calls on this stock; only the adjacent ones are shown.
2026-10-02Bearish
The S&P 500 index is used as a general investment benchmark. But what is its intrinsic value?
Quote at 00:01 ›2026-09-15BearishThis one
The S&P 500 is unaffected because it is in an AI bubble.