Now that is a Negative Forecast

Anytime you see a model that forecasts S&P 500 at 670 by 2023, you know I’m going to take it for a read!  Unfortunately, trying to read this paper on the exercise bike means I’m going to have to eventually read it again…

Chart then download:



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Forecasting Equity Returns: An Analysis of Macro vs. Micro Earnings and an Introduction of a Composite Valuation Model