Price to Earnings is now at 120 to 1. A little basic math tells us that by investing in a volatile stock market, we can now earn less than 1% on our investment.
Long term P to E is around 13 to 1 (or 7.7% return on investment)
I don't have the numbers yet on the TSX, but suspect they are only marginally better.
These P to E ratios make gold and GIC's look pretty attractive.
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