The chart above, courtesy of the Merrill’s chief Technical Analyst, shows the relationship between long term secular bear markets and valuation as measured by price to earnings (P/E) ratio on a monthly chart.
This is the primary reason I am unconvinced that the secular bear is over, but the length we have endured so far is why I believe we are closer to the end than the beginning.
If you want a more specific forecast date for when I think it will end, my best guess is sometime between next Tuesday and 2017.
Monthly Chsart Portfolio of Global Markets
Mary Ann Bartels
Merrill Lynch, February 13, 2013
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.