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RE: Down goes the Dow
Ghost, I have yet to hear a cogent argument refuting the assertion that there just wasn't enough money in existence before QE.
That is not to say that we needed all the QE we got, but your second sentence implies that absolutely no QE was warranted. Can you please explain this position.
Also, can we talk about PRICE, not VALUATION. They are different. VALUATIONS could easily rise based simply on relative under-performance of alternate investment vehicles.
Can you expand further on why you think the SP500 could get to 1,100? What would you project the P/E to be should it re-achieve that level, and around when do you think it would happen? And why 1,100, and not 1,800?
1,100 seems awfully low to me, even given that there is only a handful of out-performers. And don't you personally pay more attention to P/E?
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