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Is It Finally Time to Buy?

PE is now at 12, next year could be 17 due to lower co imcome. In 1982, the PE was 7, but the inflation was 14% and Treasury Long Bond yielded 16%. Now the inflation is 4%, and long bond yields 4.5%. Hence the PE this time may go down 7, may stay around 10 because stocks are cheaper to compare with long bond.