Relevant:
- Current Mortgage Rates: Mortgage Rates Currently Approaching an All Time Low
- Bill Gross says QE3 Unlikely Even as Job Growth Slows; Gross Still Shuns Treasuries, Likes Dividend Yielding Equities
- Debt, defaults, and devaluations: why this market crash is like nothing we've seen before
- What Crushed Stocks? | Wolf Street
- Why Is Anyone Surprised?
2008-10-08 — itulip.com
What might seem like "low" stock prices today only appear to be so from the perspective of many years of historic over-valuation. It’s only been in the past fifty years that stocks have traded with less yield than bonds. Prices higher than about 33 times dividends - a 3% dividend yield - are historically consistent with market tops. Yet we are only now approaching that level on the S&P 500 from above.
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