Friday, April 24, 2009
Equities are up almost 30% from their early-March lows, but the market is still extremely pessimistic. As this chart shows, the long-term trend rate of increase for S&P 500 index is roughly 8% per year. Relative to that trend, current prices are about as low today as they have been in the past 60 years.
Posted by Scott Grannis at 12:16 PM