Leading indicators of an economic contraction, page-312

Yep I remember watching Minack on Kohler's sunday morning show years back.

So Adam, tell me this, if an investor used the figure you have provided over the last 20 years what would they have done in the following periods:

Jul03-Sep07 - your graph says expensive dont buy equities (ASX200 went from 3000ish to 6500ish. Oppsie what happened there Adam?)

2009 - your graph says expensive dont buy equities (umm hold on. Was that the start of the expansion phase of the longest credit cycle in US history? Hasnt the ASX gone up a lot since then? Oppsie )

So can you confirm you are suggesting the ASX200 is super cheap right now and we should be piling in? Its super cheap and going up 20%-45% yeah? So the ASX200 will surge to 7884-9526? Happy days, you rippa.

I agree Minack is a worry. I also think Burt Munroe's motorbike was a beauty on a salt flat with no hills or corners.