[cinFLA]

I've said this on about 50 threads, but it is worth repeating. The S&P 500 P/E is 34. The historical average is 15. The typical bear market trough tends to overshoot and go down to 8-10. If history is any guide, this market has another 50-70% to fall. (15/34=.44, or a 56% drop). These are facts. Whether history repeats or not, that is something each investor must decide for themself. If you think the bottom is near, you should be aware of how much this bottom will deviate from historical precedents.

Obviously you ignore data that does not fit your theory!

[Soren]

Obviously you ignore data that does not fit your theory!

I'm not sure what you are referring to. Maybe the P/E assumption? I have no emotional attachment to "my" theory. If I have a wrong P/E assumption, I want to know about it ASAP because I have hard-earned cash at stake, just like everybody else does.