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To: Gut Trader who wrote (181634)7/20/2002 9:47:52 AM
From: Lucretius  Respond to of 436258
 
joke



To: Gut Trader who wrote (181634)7/20/2002 9:53:10 AM
From: Les H  Read Replies (4) | Respond to of 436258
 
The Fed model is bogus because it's the change in the 10-year yield in the past that has resulted in the market going up. The ratio of P/E to the 10-year yield doesn't have much to do with it. The yield of the 10-year bond dropped from 8 percent to 5.7 percent over the twelve months from 12/94 to 12/95.