Valuation-Informed Indexing #38: Stock Prices Are Not a Random Walk — Here’s More Proof!
By jacobwolinsky on Tue, 2011-04-19 10:00
(via www.valuewalk.com)
by Rob Bennett
Last week’s column argued that stock prices do not fall in the pattern of a random walk. Each time we have seen the P/E10 value rise to a dangerously high level (a P/E10 value of 24),...
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