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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: John Pitera who wrote (36264)5/17/2002 9:03:12 AM
From: pvz  Read Replies (1) of 52237
 
John, I agree with that fully.

If the market as a whole was fairly or even slightly undervalued last week, the resulting outflow from treasuries caused yields to rise, and now the market is a little overvalued. Inflation and further yield increases will only increase the degree of overvaluation in the future.

My original point was simply that the S&P500 was more fairly valued last week than it had been for most of the past 14 years.

I don't have data going back before 1988.

Without diminishing your point about money supply growth and inflation, it is worth noting that the S&P's natural habitat seems to be in overvaluation territory.

Pvz
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