The Green Line

Nice overview from Vanguard on the outlook for 2016.  Though it is always worth questioning what you read and what you see when people want to convey a message.  If I saw the below chart, I would say the green line is lower than the blue and purple ones, and the lowest it has been since 2009, 2003, and 1998.

Then again, I think emerging market stocks are cheap, so I read what I want from the green line. But they interpret the chart as not yet cheap…

Graph then link:



Vanguard 2016 Outlook


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