Second valuation page
Buffett indicator
Compare U.S. or global equity market value against U.S. GDP or World GDP, computed from public FRED and World Bank component series.
Buffett chart
U.S. market to U.S. GDP
Method
The numerator is FRED series NCBEILQ027S, Nonfinancial Corporate Business corporate equities liability level, converted from millions to billions, for the U.S. market modes. The global market mode uses World Bank CM.MKT.LCAP.CD, Market capitalization of listed domestic companies, converted from current U.S. dollars to billions. The default denominator is FRED U.S. GDP in billions. World GDP uses annual World Bank GDP through FRED, converted from current U.S. dollars to billions.
Source fetched May 7, 2026, 4:03 AM UTC from FRED equity market value, FRED U.S. GDP, FRED World GDP and World Bank world market cap.