I love this chart from Jame’s Montier’s latest missive, In Defense of the “Old Always.” We learn that major events occur quite regularly, while P/Es fluctuate fairly constantly . . .
Graham & Dodd P/E, 1881-2010
In Defense of the “Old Always” (PDF)
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.