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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: paul_philp who wrote (67220)5/14/2002 8:31:28 PM
From: Zeev Hed  Read Replies (1) of 99280
 
All that is quite right, but the historical norm of a PE of 8 to 18 on the S&P covers periods of low interest rates and cyclical bottoms as well as economic booms in the past, we have stayed above that norm for more than five years, markets have always returned to the "norm". I mentioned that some two years ago when I posted the 2000 forecast as one of the reasons for the impending big bear.

Zeev
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