By CCN Markets: The stock market is in the silly season when IPOs of companies that have no history of profits are soaring. The last time the stock market saw this behavior was when the dot-com bubble burst in 2000. Frothy IPOs aren’t the only reason for concern. The dot-com bubble stock market was the most expensive market in history. Today, the stock market is at its third most expensive valuation in history. You Can’t Ignore This Sign of a Stock Market Top Why are frothy IPOs a sign of a market top? As valuations get stretched in favorite existing

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