Image above shows the SPY ETF from early 2017 to early 2018May I offer, however, some important facts, as expressed by the data-based charts below. This isn’t January 2017.I’m sure early 2017 Tim would be surprised to read these words, but in retrospect, stocks in early 2017 were cheap — or at least reasonable.I’ve marked, with an arrow, each of these data sets to show how much more reasonable valuations were in early 2017. These charts are from the superb site Current Market Valuation, which has data I’ve never seen anywhere else.
I know the expression “It’s different this time” is often held in contempt, but, honestly, look at the charts. A lot really has changed in eight years.More By This Author:Corning WavesBunge JumpStraight Down
