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Anyone have any ball-parks for how large they're expecting the correction this summer to be? (Unless you guys think this is a multi-decade bull run).
Personally? I believe a correction of -25% could be seen before more QE comes in. But if you look at today's valuations and risk/reward premiums relative to history, we're somewhere in the 30-50% over-valued category. Correct me if I'm wrong, but Shiller P/E is at 22. We usually have large downturns when valuations run this high (case in point, look to 2008, 2000, etc).
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