The chart he is referring to
The chart he is referring to
📷 图像文字（OCR） S&P 500 forward P/E ratios and subsequent 10-year retums 30% 20% 10% 0% -10% -20% -30% 8x 11× 14× Current level —> 17× 20x 23X 26×
The chart he is referring to
📷 图像文字（OCR） S&P 500 forward P/E ratios and subsequent 10-year retums 30% 20% 10% 0% -10% -20% -30% 8x 11× 14× Current level —> 17× 20x 23X 26×