The chart shows the S&P 500 index from 1900 to 2010.
The color overlay is the Price Earnings (PE) ratio, calculated as S&P divided by average 3 year as reported earnings. PE above 20 is red, below 10 is blue.
Random walk anyone?
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The chart shows the S&P 500 index from 1900 to 2010. The color overlay is the Price Earnings (PE) ratio, calculated as S&P divided by average 3 year as reported earnings. PE above 20 is red, below 10 is blue. Random walk anyone? |