Comments (2)

  1. Alan Winterbotham says:

    As always, very helpful!!

  2. Don braswell says:

    I think you are using the wrong historical precedent. Look at the cape for the decade leading up to the Nikkei collapse of 1986-1989. P/e’s were through the roof. So, the only question is how high can we go? Perhaps a 40 p/e over the next 3 years…

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