"The Worst 10 Year Return in Over a Century."
From a UBS note on November 21 entitled “How low is low enough”
With the SP at 752, the trailing PE is 10x, ex-writedowns 8x. It was the worst 10 year return in over a century.
Remember in the late 1990s all the books that were published about and all the "experts" who said that even though stocks had generated high-teens returns over the prior two decades, equities were about to embark on another decade of astonishing gains as new technologies would offer the world an abundance of new productivity-increasing, lifestyle-enhancing goods and services, even though stock valuations were ridiculously stupid?
Remember?
Were they
a.) correct?
b.) incorrect?
If you chose (a), you aren't paying attention.
Now, listen to all the harbingers of apocalyptic doom, about how the bread lines are imminent, how the US is on the verge of collapse, and how the New Stone Age is upon us.
Remember this period 10 years from now.
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