The forward PE on the S&P 500 is a little over 20 right now.


Historical average is about 17 to 19.
That means future expected returns from here
are not going to be vertical.
Do not expect the next few months to look like
what the last two weeks looked like.
We just made almost 17% in two weeks.
That was not normal.
That was a V-shaped recovery from extreme fear.
What happens next is slower.
Grind sideways. Maybe dip a bit. Then take the next leg higher.
This is not a reason to panic.
This is not a reason to sell.
It is a reason to relax your return expectations.
Keep ratios tighter.
Wait for the next truly compelling setup.
Patient investors always win.
Impatient investors always give it back.
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ybaser
· 6h ago
Thank you for your information and sharing 🤗🍀
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