Today, P/E is now above the red zone of secular endure starts. Investors need to heed this in point of view as they position portfolios for future returns. The P/E cycle is driven by the impact that the inflation rate has on valuation. As it increases, the current estimation of future income falls. As P … Continue reading Valuations are extreme
The swings during secular bear markets are much more dramatic than most investors realize. Although secular bull markets have similar swings, they are upward-sloping and are often ignored. The last full secular bear market period delivered 1 6 years of annual changes and 343% cumulative peak-to-trough movements — thus over 21 % per year.