History suggests neither. Consider the period from September 1929 through February 1964, which is plotted in the chart below. This stretch holds the record for the longest period when the Dow ...
Once again, the S&P 500 has outperformed the Russell during falling interest rate environments dating back to 1984. In fact, the only time the Russell outperformed was between 2000 and 2003 after the ...
So earnings should continue to justify rational exuberance. The problem is valuation. Warren Buffett has been raising cash probably because his Buffett Ratio (measured as the S&P 500's price index to ...