One Way To Look At Equity Prices

 |  Includes: IVV, SH, SPY, VOO
by: Calafia Beach Pundit

Here's one way of putting the equity market rally in long-term perspective:

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By this measure, equities on average gain almost 7% a year (plus dividends), and they have plenty of room left on the upside. The market was way too optimistic in 2000, but now appears to be right in the middle of its historic range.