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| Horsefeathers! |
The Professor discusses the difference between the short run
and the long run.
https://www.youtube.com/watch?v=6ClWPlrHsW0
In the long run we all die…oops, no, that’s Keynes.
Wharton's Jeremy Siegel:
In the long run, with value stocks of reasonable P/E ratios,
I you're going to be rewarded. That's
what history says with with low p e stocks.
But what good is that for a
10-year-old? This 10 year period has been the worst for low p e stocks
relative to high P E stocks in our history. But if you go back all you know 100
years, you know valuation is better. As a goal for a long term investor.
Momentum is more important for short term investor, the
momentum is still going towards these tech stocks. They have not yet
disappointed.
Right now, small stock growth is not an alternative.
“I think any small company that finances short and small
companies financials are going to be helped immediately by array. Long. You
know, the tech companies are all financial, either long term bonds or equity
and it's really, really cheap for them. In both cases, it's really the pain of
this tightening is being felt by those smaller companies. That have to roll
over inventory and other loans at the bank level, and they need the relief and
until they get that relief. It's hard to see them joining in [the rally]."
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