Author Bio Zhiyuan Sun is a statistician with a knack for analyzing clinical trials and company financials. Investing in healthcare and cannabis is his passion, as well as looking out for new, actionable stock investment ideas in these sectors. Fool since April 2020. Lives in Québec City, Canada. Follow @Bio_Chameleon Over the past 12 months, the S&P 500 has delivered an impressive 48% return. However, the index is now at its third most-expensive level in history, with a price-to-earnings (P/E) ratio of 42. With that run-up behind us, it has become more challenging to pick up good new investments without paying an excessive premium. Still, will a little extra legwork, some relative bargains can be found.