"I see one prediction for the all-ords on HC of 800 which assuming company earnings were static would give an average PE of less than 5. I don't think so!"
As you have stated, your key assumption is static earnings... is that a fair assumption in a period of deflation??
Try earnings at less than 50% of current levels within 3/4 years thanks to our long absent friend; Mr DEFLATION.
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"I see one prediction for the all-ords on HC of 800 which...
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