Quote Originally Posted by HKG2301 View Post
A strange article, best explained by reading it in terms of a swing-trader's views, as opposed to an investor's.

Sure, the US is experiencing a short-covering rally brisk enough to make your eyes water, and well done to the author for riding that wave. But does he really expect it to last forever? S&P500 at 3,000 perhaps? Or 4,000? And, when the rally surely peters out, what then?

Yes, the press & media have been full of doom & gloom, but then, we are experiencing a global pandemic compounded by an economic shut-down. What does he want, feel-good articles on gardening and upcoming movies?

Fundamentals still apply. The 'Earnings' part of PE ratios will still eventually drive the markets lower when reality kicks in. Maybe sooner rather than later, given the fact that the S&P is now back at the pre-covid levels of October, and the Nasdaq at early Feb levels!

Or does the author think that 'this time it's different'? Heard that one before...
This time it is different though. Look at the interest rates. They are what discount rates are derived from and valuations are derived from discount rates. PE's can be in the 30's and still be relevant in a low interest rate environment. Other than that, I too do not know.