30 yr S&P 500 log chart

٢٨ يناير ٢٠٢٢

The "scary good" fit of the S&P's exponential growth to this regression line gives one pause on how much room there is to run and how much downside risk there is in the market, even if we *only* return to the regression mean.

٢٨ يناير ٢٠٢٢

ملاحظة

Could we be in late 1998, with more froth to come? Sure, but this can't last forever.