Stocks Are Not Magical Lottery Tickets:
Agreed, but over the completion of a full market cycle valuations drive returns and current levels are at historically high valuations. Investors should be prepared for levels 50-60% below where they are today.
Quote of the Day wrote:
"To be sure, valuation measures exert only weak gravitational pull on the markets over the shorter term. So there's nothing guaranteeing that a market drop is imminent because of the market's current overvaluation."
-- Mark Hulbert, MarketWatch
You said the same thing when the market was lower. Why haven't your numbers changed as the market has reached record territory?
This from a guy who has not once communicated an original thought or even come up with an original way of phrasing others thoughts. Classic.
Joe Beets wrote:
They aren't his numbers. Igy just repeats whatever John Hussman and the other permabears say. He can't think for himself.