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No Capitulation Necessary

The Compound and Friends

CHAPTER

Is the Market Multiple 12 14?

The Fed was in a position to rescue the stock market anytime it got into trouble. Now that's no longer the case and even though multiples came down 25% they could still have a lot longer to go. "In an pre-covid environment a 20 multiple is is perfectly reasonable, but now obviously Is the right multiple 12 14? You know you have no idea"

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