tag:blogger.com,1999:blog-2335748440449035592.post7798467115467843149..comments2009-04-24T16:44:23.260-04:00TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2335748440449035592.post-66294196852053559692009-04-24T16:44:23.260-04:002009-04-24T16:44:23.260-04:00Almost everything now in America is "adjusted" so that people don't realize what is going on. Thankfully the people are so stupid it works.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-1622961532205407702009-04-24T15:03:32.416-04:002009-04-24T15:03:32.416-04:00Great post! <br /><br />I was just looking into doing a PE for the S&amp;P and noticed the fake earnings.<br /><br /><br />Dividends are real earnings and the yield is 3% on the S&amp;P.....you can get a risk free yield around that on the 10year note.<br /><br />You mentioned we&#39;re around 30PE now, and need 15...If you look at divi yields, they&#39;re at 3%, and being cut, so double that and cut the market in half, and we&#39;re at decent value areas.<br /><br />Just tell that to the perma-bulls on CNBC ;)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-12525293625845452382009-04-24T14:12:55.373-04:002009-04-24T14:12:55.373-04:00Indeed it is disheartening that the markets are still apparently using valuation measures from bubble times to try desperately to prove that valuations are compelling at these levels in these times. I suppose as long as the mass delusion continues that true value will be hard to find.<br /><br />Graham would be appalled; and undoubtedly all in cash too!Nathannoreply@blogger.com