Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

It is not the opposite, it is just different, I agree with you that long rate will climb up and thus PE will compress, but for the current rates, PE are at the bottom part of their traditional range, so another rally into 2005 is quite possible. Longer term, late 2005 and maybe even 2006, I still have us in our friendly secular bear, which at the time (April 2000, #reply-13483082), I suggested may last for a good 5 to 10 years, maybe even 16 as in the 1966/82 period.