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Every day, the American bull market looks more and more like the dot-com bubble of the late 1990s.Investors have seen annualized returns of 24.5 percent since March 2009, compared with 27.1 percent over an equal amount of days ending March 24, 2000, the peak of the Internet rally, according to data compiled by Bloomberg. While the dot-com bubble peaked with the S&P 500 trading at close to 30 times annual earnings of its companies, the valuation is about 19 times now, data from S&P Dow Jones Indices show.U.S. stocks rose for a sixth day in seven.Five years of gains have driven the S&P 500 up 195 percent, compared with a 236 percent advance over the comparable period ended in March 2000 . At the record yesterday, 48 stocks hit a 52-week high, compared with 27 at the peak in 2000 .The S&P 500 climbed more than 400 percent over that stretch and the Nasdaq Composite Index increased 15-fold, producing annualized returns of more than 33 percent for almost 10 years.
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