David Stockman: Yelling ‘Stay’ in a Burning Theater
April 3, 2016
Buried within this over-the-top (one of my colleagues used the word unhinged) rant by David Stockman are some good data points on earnings and S&P stock prices. Prices can remain high (on a P/E basis) and get even higher, but one wonders what will happen when things finally slow down.