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The Parallels of the S&P 500
The underlying economics is far different than it was back then. The real S&P 500 EPS growth is now 9% today versus 4% in the 1960s. inflation is lower, you know, real 10 year yields are, are lower. BAA spread is actually higher. And so what was it? What was it that he was trying to do? Where did he see the parallels?