(Bloomberg) -- Rarely has it cost so much to purchase low-priced stocks.
With oils rebound helping U.S. energy producers recover from a 27% plunge, the least-expensive industry in the Standard & Poors 500 Index just became banks, where the median company trades at 17.6 times earnings from the past 12 months. Thats no bargain: only once has the cheapest sector commanded a higher valuation, a quarter century of data compiled by Bloomberg and Leuthold Group show.
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