S&P 500 circa 1650: Too optimistic based on P/BV?Guest Post
This article posits that at the current price to book value of the S&P 500 (INDEXSP:.INX), Mr. Market is taking an optimistic view based on fundamentals. We support our thesis by reverse engineering the P/BV for the S&P 500 (INDEXSP:.INX) based on current and historical values for the market ROE, as well as other market fundamentals.
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