Too Early or Too Wrong

A lot of people have thrown in the towel. I wrote about this because so the title of it is too early or too wrong. If you expect that, where we are right now at almost 20 times forward earnings suggests that the next 10 years we'll see 3.6% average annual returns. That's below average. A pullback and a normalization would actually be healthy for everybody. It would be a better entry point. And that's really one of the only things that matters here. How much you pay for stocks still matters,. Real estate does not put in the Federal Reserve into the S&P 500 as quickly as credit spreads do. The Fed doesn't want to over-