I’m sorry to inform investors out there – the stock market doesn’t happily bounce back to historical averages on a regular basis.
I hear a lot of “academic” sounding arguments that predict the direction of the market based on its “valuation metrics” – also called its “multiple.” It sounds so learned and so well founded. After all, aren’t we talking about the “fundamentals” – earnings vs. price, the non-emotional way to invest.
Too bad none of this works, and ...
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