Recovery in Japan and China, not to mention the 100 million people it plans to relocate, will help 2014 make history.
Did I forget to say everything is better than it was in years past, as seen below:
S&P 500 Comparative Metrics
(Source: FactSet, Standard and Poor’s, and AllianceBernstein)
Mar Oct Nov
2000 2007 2013
Price 1,550 1,550 1,806 Lower valuations
Forward P/E* 25.5× 15.0× 15.1×
Earnings per Share* $60 $103 $119 Higher quality
Net Debt**/Equity 31% 61% 29%
Dividend Yield 1.10% 1.70% 2.00% Dividends comp. with bonds
10-Yr Treasury Yield 6.20% 4.50% 2.80%
Nominal US GDP $9.90 $14.60 $16.90
(USD Trillions)
