If you spend time to understand it,

来源: 于 2011-03-07 15:43:04 [博客] [旧帖] [给我悄悄话] 本文已被阅读：次

Stocks do present dual personalities. In bubble state, it is an inflated assets. But if bubble burst, and price decline enough, it then again represent the true value of a company or companies.

You have to ask, what is the true value of the companies or stock market, say SP500?

the stock market PE has historically been around 8-10. Where are we now?