Yields as a measure of value only work if they are sustainable.
The statistics are distorted by the fact that Financial stocks have been major contributors to the yield, and we all know what is happening to them.
Maybe we are just going back to the good old days: Equities = higher risk = higher yield. In a depression you can forget inflation, for a while at least
Fear and Value: Together Again [View article]
The statistics are distorted by the fact that Financial stocks have been major contributors to the yield, and we all know what is happening to them.
Maybe we are just going back to the good old days: Equities = higher risk = higher yield. In a depression you can forget inflation, for a while at least