Big Dog Investments wrote:
Ghost of Igloi wrote:It is pretty significant that the rally has been based on the promise of tax cuts and infrastructure, that looks unlikely to be a 2017 events. But those are facts that are inconvenient for your Bullish narrative.
Another record day, another notch for the DGTD contrarian indicator.
For Q1 2017 with 95.7% of companies reporting EPS tracking at $29.05 non-GAAP and $27.57 GAAP. Funnily enough, that compares to Q2 2014 which recorded $29.34 non-GAAP and $27.14 GAAP when the index was trading at 1,960. So investors like Big Dog are finding value at PE 24. Big and his Clones
love to pay higher prices for an asset, because "the market is going up, I must be right."