'The estimated loss in the S&P 500 that would be needed for...

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    'The estimated loss in the S&P 500 that would be needed for MarketCap/GVA to reach run-of-the-mill valuation norms historically associated with subsequent total returns averaging 10% annually is about -70%.'

    https://x.com/jessefelder/status/1829570601100698110
 
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