The rule of 20 for valuation, 100 year look
lets look at 150 years of stock prices and see how valuation with inflation played out, and apply the "rule of 20" as a guide. The rule of 20 is a benchmark regression that essential says when PEs and cpi inflation are added together they should be under 20 for stocks to be attractive historically. 
SPX
DJI
QQQ
NDX
GOLD
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