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Ghost of Igloi
RE: Down goes the Dow

Interest Ted wrote:

[quote]Ghost of Igloi wrote:

[quote]Interest Ted wrote:

[quote]Ghost of Igloi wrote:


Interestingly the Fed Model uses the same distortion to justify a relationship between the Ten Year Treasury Yield and equity valuation. Greenspan drew this comparison using data starting in 1985.


Link please.[/quote][/quote]

Thanks, but earnings yield is not the same as valuations. One is a function of the other, but that doesn't make them equivalent.[/quote]The Fed Model has been used through out this cycle to justify equity valuations as cheap.

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