The Market Is Expensive, But Not “Dot-Com” Expensive Expert panelists including Joel Greenblatt, Liz Ann Sonders, Jeffrey Sherman and Jan Van Eck weigh in on the market exuberance at Informa Connect’s Inside Wealth virtual event. With the stock market hitting record highs and President Joe Biden proposing trillions of dollars additional stimulus, market experts told a gathering of advisors this week that yes, the market is expensive, but not yet at “dot-com-bubble” levels of exuberance, value stocks are due for a resurgence, and thematic ETFs could be the way to navigate the economic waters of the Biden administration. At Informa Connect's Inside Wealth virtual event last week, Joel Greenblatt, co-chief investment officer of Gotham Asset Management, said the S&P 500 Index's free cash flow yield is 3.3%, which means the market is more expensive than any time during the last 30 years.