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发表于 2013-3-16 07:31 PM
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Did you forget to factor in inflation?
The best way to interpret the index price of S&P 500, is to have it inflation adjusted with the
effect of reinvested dividends.
I calculated that, in inflation-adjusted terms (negative impact on the index price) with dividends
reinvested (positive impact on the index price), the S&P 500 would need to be at 1621 today
to match the March 2000 peak, and at 1598 today to match the October 2007 peak.
Fairly speaking, we've not seen any 死皮新高 yet.
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