07-02-2013, 04:19 PM
Something interesting I came across:
http://www.forbes.com/forbes/2002/1111/174.html
http://education.fisherinvestments.com/p...mmer06.pdf
'There is no linkage of market P/Es to subsequent returns--no matter how you measure the ratio and no matter over how long (up to five years) you measure returns.'
http://www.forbes.com/forbes/2002/1111/174.html
http://education.fisherinvestments.com/p...mmer06.pdf
'There is no linkage of market P/Es to subsequent returns--no matter how you measure the ratio and no matter over how long (up to five years) you measure returns.'