fed and yardeni

return, whether, respect, higher, correct

these are the same with respect to the markets being under/overvalued depending on whether the SP Earnings yield is higher or lower than the Fed Model bond return and the Yardeni return right?

Fed Model gives LT Bond at 5%, SP 500 Earnings at 2 %. Equities are overvalued. If the Yardeni Model yields 5% and SP 500 Index is yielding 2%, equities are also overvalued correct?

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cityboy

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发表于 2011-7-11 19:49 | 只看该作者

This is correct Skip

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mp3bu

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发表于 2011-7-11 19:49 | 只看该作者

why it has to be equity being overvalued? maybe bonds are undervalued and equity properly valued...who said bond investors are right by default?

....just busting chops....

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dyga