ok just some left field thoughts from the Raven on things as crazy as the gold dow ratio...
just looking at spx vs $GLD back to 1975 some stats using the following ratios you get an SPX based on current gold prices;
min 154
25% 682
50% 1217
75% 2716
max 6505
average 1833
we currently stand at 45th percentile, so not extreme at all.
if we look at the price of gold, fixing the SPX and using the lowest SPX/GLD ratio from the last gold bubble, we see a SPX inflation adjusted price of $8,353. whooooah indeed.
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