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Jul 03 1986

A Demonstration: Stock Market Potential By P/E Level

  • Jul 3, 1986

Over the past 57 years, what kind of future performance did the investor experience when the market was at 10 times earnings? 15 times earnings? 20 times earnings? Based on this work, over the next five years total stock market returns should not be expected to exceed 6% per year.

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