Gap Up then Sell before the Weekend?

[rawraw]

@BValGuy

^I’m curious, over what time period are you calculating your mean and median? My guess would be that your stats go back to early 1900’s. I’m almost certain that today’s S&P 500 PE ratio is near the low of the last 15 years, and it’s a fraction of the level it was at circa 2000. My point is that based on the tenor of certain comments on this board, you would think the sky should be falling, when in reality, based on earnings the market is not trading at unreasonable levels.

And you think the past decade is represenative of a ‘normal’ market?

[BValGuy]

@rawraw

@BValGuy

^I’m curious, over what time period are you calculating your mean and median? My guess would be that your stats go back to early 1900’s. I’m almost certain that today’s S&P 500 PE ratio is near the low of the last 15 years, and it’s a fraction of the level it was at circa 2000. My point is that based on the tenor of certain comments on this board, you would think the sky should be falling, when in reality, based on earnings the market is not trading at unreasonable levels.

And you think the past decade is represenative of a ‘normal’ market?

See below. Looks like Warren and I are on the same side of this argument.

http://www.washingtonpost.com/business/buffett-says-federal-reserves-low-rates-help-stock-market-praises-bernankes-leadership/2013/05/06/48bb1d36-b63b-11e2-b568-6917f6ac6d9d_story.html