Lots going on today. I'm reading the GDP release and trends in the constructs of GDP tend to have some rationale to them a they shift, there are many here that have no rationale, just sudden, abrupt reversals. I'm still of the opinion that this GDP will be revised lower.
The S&P stands at 24x P/E, the historical norm is 16.1x. Since the stock market started trading there has never been a time that the P/E rose above 20 and did not see a significant pendulum like retracement. Just an interesting fact.
5 years ago
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