willis9 Wrote:
Feb 12, 2013 1:03 PM
I noticed q4 spikes going back to 2009 when the Bush tax cuts were not nearing their expiration date. Stocks are priced not on past performance as much as the expected future stream of earnings, past performance does increase confidence that future earnings will be there. The charts provided have no inflation adjustment. QE1, 2, 3, and Q 4ever hide the reality in unadjusted data.