unnamed (14)_41.png (495×632)
The "norm S&P 500 PE" closed yesterday at 23.4x— exactly ten points above the median of the last 12 bear market lows. Bulls should be cognizant that if the market were to bottom here, it would represent the “priciest” bear market.
Bulls should be aware they have already lost amd are fucked
if inflation and interest rates remain high, P/Es and yields will converge with the 1970s. Lucky to escape with a 50% cut in prices.