Slap your best-guess multiple (trend growth?, slow growth?, no growth? contraction?) on 2012 EPS estimates and decide for yourself where fair value is for the S&P. Of course, beware Farrell’s Rule #9. Set an alert to revisit this post one year hence.
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.