With my modification I would adjust the target from 20 to somewhere between 10 and 15.
Regardless of p/e ratio I would rather buy stocks at a peak in interest rates than at the trough they are at now. That is my only problem with the Relative Value indicator. Stocks can't be a bargain if interest rates will double.
Toofuzzy
Take the road less traveled. It will make all the difference.
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