Fundamental Relationships have Changed in QE’s Wake

Categories Author: Ehren Stanhope, Investing, U.S., Value, Yield

“When the facts change, I change my mind. What do you do, sir?”

— Attributed to John Maynard Keynes (1883-1946)

I read a lot of market commentary. There are a lot of doomsayers out there. While I can’t argue with the fact that valuations are higher than they were at the market lows in 2009, the calls for a calamitous decline based on valuation seem overblown. Valuation tends not to be a good predictor of bear markets. Continue reading “Fundamental Relationships have Changed in QE’s Wake”