the one thing he leaves out which funny enough is the most important thing...... EARNINGS & p/e ratio to justify that kind of rally
no where does it mention 2009 earnings for the s&p which current estimates stand at $42 for a forward p/e of 19.5 (still very high for a crisis of this scale and economy collasping)
getting a 50% rally off that and taking the p/e ratio to 30 in this kind of bear market is dreaming
a 50% rally when p/e is around 10-13 i could believe, the s&p index would be down around 620 as a starting point
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