Forward Returns Continue To Fall
Forward Returns Continue To Fall One of the interesting aspects of “bull markets" is the further they go, the lower forward returns fall. In hindsight, such an idea seems counter-intuitive, but ultimately it always comes down to valuations. As Warren Buffett once quipped: “Price is what you pay. Value is what you get." Please share this article - Go to very top of page, right hand side, for social media buttons. ( When markets are incredibly exuberant, as they are currently, it is not surprising that such is commonly associated with previous market peaks. The chart below shows the annual...
Source: econintersect.com