Most all market pundits say the S & P is fairly valued to somewhat cheap. Aside from the fact that these same pundits make their living from recommending shares for purchase, do they know what the words "fair valued" and "somewhat cheap" really mean when the earnings of S& P companies are put in todays unreal context?
I have one question for this collective group. What are the earnings of S & P companies if the Fed wasn't buying one trillion of treasuries or mortgage backed securities per year along with the one trillion that congress spends per year that it doesn't have?
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