Value, I have no idea anymore
I mean how in the world can the markets have rallied 30%-42%, straight up for months, and near all time highs, yet be pricing in rate cuts by early 2024, when rate cuts would only happen if there was a recession ? Also how can there be a bull market when the yield curve being inverted for 15 months(now 17 months) has predicted a recession within 2 years, six out of six times over the last 50 years ? Lastly, how in the world can the S&P have had flat earnings for 8 straight qtrs, yet PEs are 30% higher than historic ? On the other hand, trying to make sense of anything with this market has been futile for months now, and it's been unbelievably frustrating for me on the short side.
