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In One Chart: The era of ‘price-insensitive buying’ has led to this troubling chart

The top-heavy valuations of the FANGs — Facebook FB, +0.14% Amazon AMZN, +0.63% Netflix NFLX, -0.22% and Google GOOG, +0.41% — has been a steady theme as the bull market continues to prove resilient.

But longtime investor Jesse Felder of the popular Felder Report says there’s another, oft-overlooked angle illustrating just how expensive stocks have become and how the rampant equity euphoria isn’t confined only to a select group of high-profile tech names that steal the headlines.

“The median valuation of all the stocks currently among the Dow industrials has recently soared to a record high,” he explained, pointing to the chart below.

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