Dec

27

A general observation: Reading various market analyses, it seems the modal form now is this:

(1) The market is over-valued versus some metric such as CAPE.

(2) Therefore, the market is going to crash.

As opposed to:

(1) The market is over-valued versus some metric such as CAPE.

(2) Therefore, it's reasonable to expect below-average returns going forward for some time period.

We seem to be very "crash sensitive".


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  1. Jeff Watson on December 27, 2017 7:36 pm

    Well, today the flexions rolled out both Ron Paul and Jim Paulsen to sell the narrative of impending doom, this time likening it to the Russian crash. They’re not very subtle, disseminating their message which designed to scare and shake people out of their position in stocks.

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