Valuation since the late 1990’s – win any argument with your friends!

JPMorgan Asset Management’s new On The Minds of Investors piece takes a look at “framing”, a behavioral bias that affects our judgments about market prices. Where you choose to start counting from will have a big impact on how you feel and what arguments will appeal to you. For instance: What level of returns should we expect from equity markets? The answer changes depending on the time period – when i...

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source https://thereformedbroker.com/2020/08/03/valuation-since-the-late-1990s-win-any-argument-with-your-friends/